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Flipkart, the Indian e-commerce company owned by Walmart and a close competitor of Amazon in the South Asian market, is in the process of relocating its headquarters back to India from Singapore. This decision comes as Flipkart prepares to file for an IPO on Indian stock exchanges. The move is seen as a natural evolution to align the company’s holding structure with its core operations and capitalize on the vast potential of the Indian economy.
Transitioning back to its roots in India, the company aims to enhance its focus and agility in serving customers, sellers, partners, and communities while contributing to the nation’s digital economy and entrepreneurship. While the relocation is pending requisite approvals and a specific timeline has not been disclosed, Flipkart is expected to commence the IPO process in the country next year.
The move by Flipkart follows a trend of other startups, such as PhonePe, Zepto, and Groww, relocating their headquarters to India as they pursue public listings on Indian stock exchanges. Despite challenges in India’s current public market environment, investors remain optimistic about the growth potential in the market, with several companies lining up to go public in the coming years.
In addition to the headquarters relocation, Flipkart recently raised $350 million from Google as part of a larger funding round, bringing its total valuation to $36 billion. This strategic move positions Flipkart for further growth and success as it prepares for its upcoming IPO.
