Walmart's Flipkart shifts base to India as it prepares for IPO

Reuters

Mon, March 9, 2026 astatine 7:48 AM CDT 1 min read

MUMBAI, March 9 (Reuters) - Walmart's Indian e-commerce steadfast Flipkart has shifted its holding institution to ‌India from Singapore, the institution said connected Monday, ‌paving the mode for its planned banal marketplace listing successful ​the country.

The steadfast joins dozens of Indian startups that erstwhile chose to beryllium based overseas for amended entree to superior and smaller taxation bills but are present ‌queuing to instrumentality ⁠home from fiscal hubs specified arsenic Singapore owed to amended IPO prospects successful the ⁠country.

In a statement, Flipkart said it has received the Indian government's support for its interior restructuring and ​it has ​now completed its "redomiciliation" to ​India, calling it "a important ‌milestone".

Flipkart, which started successful 2007 by selling books online, expanded into a behemoth that competes with Amazon.com Inc successful India. It moved its holding institution to Singapore successful 2011. Walmart bought a controlling involvement successful ‌Flipkart successful 2018 for $16 billion.

Flipkart ​was past valued successful 2024 ​at astir $37 billion, ​when Alphabet's Google picked up a $350 cardinal ‌minority involvement successful it.

The institution ​is aiming ​to database successful Mumbai earlier March 2027, though it has yet to steadfast up its valuation ​for the ‌IPO oregon its size, said a root with ​direct knowledge.

(Reporting by Vibhuti Sharma; Editing by Aditya ​Kalra and Chizu Nomiyama )