Walmart instructed its Indian subsidiary Flipkart to postpone its initial public offering. The retail giant requires Flipkart to achieve EBITDA breakeven by the end of the 2027 financial year. This directive applies to all forms of external fundraising.
Walmart CEO John Furner reportedly communicated the decision during a visit to Bengaluru. The shift reflects investor demands for profitability over growth-at-all-costs models in the tech sector. Walmart recently surpassed a $1 trillion market capitalization. The company now prioritizes the financial health of its subsidiaries over speculative capital raises.