Walmart-backed e-commerce giant Flipkart is preparing for an Initial Public Offering (IPO) that could launch as early as late 2024 or in early 2027. The company expects to formally invite investment banks to pitch for advisory roles in April. It has already held informal discussions with Goldman Sachs and Morgan Stanley to evaluate investor interest and offering structures.
Flipkart recently received regulatory approval to shift its domicile from Singapore to India. This relocation serves as a primary step toward a potential listing on the Mumbai stock exchange.
Walmart initially acquired a 77% controlling stake in the company for $16 billion in 2018. That transaction valued the firm at approximately $21 billion. Walmart has since increased its ownership to more than 80% through additional share purchases. Recent secondary market transactions now value Flipkart at roughly $35 billion.