Flipkart shifts holding company to India from Singapore ahead of planned IPO

Walmart’s Indian e-commerce business Flipkart has shifted its holding company from Singapore to India, paving the way for its planned stock market listing in the country, the company said on Monday. The firm joins dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills but are now lining up to return home from financial hubs like Singapore due to better IPO prospects in the country.

In a statement, Flipkart said it had received the Indian government’s approval for the internal restructuring and completed the “relocation” to India, calling it a “major milestone”.

Flipkart, which started selling books online in 2007, is a subsidiary of Amazon.com Inc. in India. It has become a giant competing with. He moved his holding company to Singapore in 2011. Walmart acquired a majority stake in Flipkart for $16 billion in 2018.

Flipkart was last valued at around $37 billion in 2024, when it acquired a $350 million minority stake in Alphabet’s Google.

The company aims to go public in Mumbai before March 2027, but is yet to finalize its IPO or valuation on its size, a source with direct knowledge said.