Flipkart Likely to Opt for Traditional US IPO Between October-December This Year: Report
3 years, 8 months ago

Flipkart Likely to Opt for Traditional US IPO Between October-December This Year: Report

News 18  

Flipkart, owned by Walmart, is likely to go for an IPO between October and December this year. According to an exclusive report by Bloomberg, Walmart has set up an internal IPO team for Flipkart and is leaning toward a traditional debut in the United States The report further states that the startup’s valuation could top USD 35 billion as it goes public. In May 2018, Walmart had said in a filing with a U.S. regulator that it may take Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition. Minority investors holding 60 percent of Flipkart’s shares “acting together, may require Flipkart to effect an initial public offering” four years after the close of the Walmart-Flipkart transaction, the Bentonville. Minority shareholders after the deal included co-founder Binny Bansal, China’s Tencent Holdings, U.S. hedge fund Tiger Global Management and Microsoft Corp. Former Amazon employees Sachin and Binny Bansal founded Flipkart in 2007 and, just like Amazon, began by selling books.

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History of this topic

Flipkart IPO likely in 12-15 months, plans to shift domicile to India ahead of listing, says report
Top News
2 weeks, 1 day ago

Flipkart IPO likely in 12-15 months, plans to shift domicile to India ahead of listing, says report

Live Mint  

Online retailer Flipkart plans to publicly list within 12-15 months time, according to an Economic Times report citing multiple sources. The report added that plans for the IPO have been under discussion since 2021 but were put on hold due to “adverse market conditions” in FY23. Industry Overview One source highlighted global listing successes such as Coupang in South Korea, …

Flipkart to shift base from Singapore to India as it prepares to public, IPO in next 12-15 months
2 weeks, 1 day ago

Flipkart to shift base from Singapore to India as it prepares to public, IPO in next 12-15 months

Firstpost  

In a strategic move to align with local regulations and prepare for a listing on India’s stock exchange, Flipkart will be shifting its base from Singapore to India Walmart, which bought a majority stake in Flipkart for $16 billion in 2018, has been planning and preparing for its IPO strategy for quite some time now. Image Credit: Reuters Flipkart, India’s …

Flipkart sets sights on IPO launch within 12-15 months: Report
Trending News
2 weeks, 1 day ago

Flipkart sets sights on IPO launch within 12-15 months: Report

India Today  

Flipkart which is valued at $36 billion, is preparing to launch its initial public offering within the next 12-15 months, reported The Economic Times. The US retail giant has consistently expressed confidence in Flipkart’s growth potential, with executives highlighting strong performance in flagship events like the Big Billion Days sale. But now there's strong growth both in Flipkart and in …

Flipkart, Amazon under scrutiny for foreign investment violations: Report
Trending News
1 month, 1 week ago

Flipkart, Amazon under scrutiny for foreign investment violations: Report

India Today  

The government is planning to summon executives from Flipkart and Amazon as part of a deeper investigation into possible violations of foreign investment rules, reported news agency Reuters. The action highlights the rising regulatory scrutiny faced by Walmart-owned Flipkart and Amazon, both of which are experiencing rapid growth in India’s Rs 70 billion e-commerce market. Following last week’s raids on …

Flipkart-backed truck aggregator Blackbuck files for IPO, to raise ₹550 crore
5 months, 2 weeks ago

Flipkart-backed truck aggregator Blackbuck files for IPO, to raise ₹550 crore

Hindustan Times  

Flipkart-backed Blackbuck filed draft red herring prospectus with the Security Exchange Board of India for a ₹550-crore initial public offering. The public issue of the online trucking platform includes an offer for sale of 21.6 million shares by existing shareholders. Blackbuck IPO: The public issue of the online trucking platform includes an offer for sale of 21.6 million shares by …

PhonePe and Flipkart IPO may come in two years, Walmart executive says
6 months, 2 weeks ago

PhonePe and Flipkart IPO may come in two years, Walmart executive says

Hindustan Times  

PhonePe and Flipkart IPOs may come in two years, with PhonePe’s IPO likely coming before that of Flipkart, according to a Reuters report. PhonePe has a market share of 51% in India's digital payments ecosystem "This is something we're looking at over the next couple of years,” Walmart’s executive vice president for corporate affairs, Dan Bartlett, told Reuters on the …

Walmart Exec Says PhonePe, Flipkart IPOs Could Take A While, Payments Portal To Be Placed On Offer First: Report
6 months, 2 weeks ago

Walmart Exec Says PhonePe, Flipkart IPOs Could Take A While, Payments Portal To Be Placed On Offer First: Report

ABP News  

E-commerce platform, Flipkart, and digital payments portal, PhonePe, could reportedly take some years to come out with their maiden public offerings, a senior executive at Walmart said recently. Speaking at the shareholder meeting of the firm nears its headquarters in Arkansas on Thursday, Dan Bartlett, Executive Vice President for Corporate Affairs, Walmart, noted that the initial public offerings of both …

When will Flipkart be listed? ‘Looking at right time’, may enter quick commerce segment
7 months, 1 week ago

When will Flipkart be listed? ‘Looking at right time’, may enter quick commerce segment

Hindustan Times  

Walmart's international president and CEO Kathryn McLay said that the US retailer is exploring the right time for its Flipkart business to go public. The firm's India unit has witnessed strong growth, Kathryn McLay said during the company's earnings call. They are on track to the growth trajectory that we had them on, and we are looking and exploring when …

Flipkart valuation declines over ₹41,000 crore in two years: Major reasons why
9 months ago

Flipkart valuation declines over ₹41,000 crore in two years: Major reasons why

Hindustan Times  

Flipkart's valuation has declined by $5 billion or around ₹41,000 crore as of January 2024 compared to January 2022, as per equity transactions carried out by its US-based parent firm Walmart. The company's ownership of Flipkart increased from approximately 75 per cent as of January 31, 2023, to approximately 85 per cent as of January 31, 2024.” Flipkart valuation: A …

Flipkart valuation declines by over Rs 41,000 cr in two years
9 months, 1 week ago

Flipkart valuation declines by over Rs 41,000 cr in two years

New Indian Express  

NEW DELHI: E-commerce firm Flipkart's valuation has declined by USD 5 billion or around Rs 41,000 crore as of January 2024 compared to that in January 2022, according to equity transactions carried out by its US-based parent firm Walmart. The valuation of the e-commerce firm declined to USD 35 billion as of January 31, 2024, from USD 40 billion in …

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales
10 months ago

Flipkart's Big Billion Day drew 1.4 billion customers and super Walmart sales

Hindustan Times  

Flipkart’s annual Big Billion Day sales boosted US retail major Walmart’s sales in the quarter ending January although it hurt the company’s profit margin for the period. The Big Billion Day- Flipkart's annual festive sale event in October 2023 touted as the ‘largest ever’- brought 1.4 billion customer visits to the platform, a top Walmart executive said. Walmart's Q4 profits …

India's online shopping market: Which is better? Flipkart, Amazon or Meesho
10 months, 3 weeks ago

India's online shopping market: Which is better? Flipkart, Amazon or Meesho

Hindustan Times  

Walmart-owned Flipkart is leading India's e-commerce segment with 48% market share, AllianceBernstein said in a new report. Softbank-backed Meesho has emerged as the fastest growing ecommerce platform in terms of users in India while Flipkart's users grew 21% year-on-year. The e-tailer is growing faster than the industry in the country, the report said, adding, “As of FY23, Flipkart was the …

Flipkart, Swiggy to cut jobs as part of restructuring
10 months, 4 weeks ago

Flipkart, Swiggy to cut jobs as part of restructuring

New Indian Express  

BENGALURU: Both Flipkart and Swiggy are reportedly letting go of 1,000 and 400 employees, respectively, as part of their restructuring exercise. Though mails to both the companies did not elicit any response, sources said Flipkart will let go of a few employees as part of its annual restructuring and that the number is not yet fixed. Flipkart had previously imposed …

Meta-backed Meesho is beating Amazon, Walmart in race for Indian shoppers
2 years, 2 months ago

Meta-backed Meesho is beating Amazon, Walmart in race for Indian shoppers

Live Mint  

An upstart e-commerce service is winning more new shoppers in India than Amazon.com Inc. and Walmart Inc.’s Flipkart, posing a challenge to the U.S. retailing titans, which have plowed billions of dollars into the world’s biggest untapped digital market. Bengaluru-based Meesho is leading the burgeoning social-commerce sector, allowing users to sell items by sharing product listings with friends via Meta …

Flipkart eyes IPO valuation of $70 bn, US listing next year
2 years, 8 months ago

Flipkart eyes IPO valuation of $70 bn, US listing next year

Live Mint  

The global market turmoil sparked by the Russia-Ukraine crisis is said to have also forced the firm to reconsider its timeline Walmart's Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan …

India, Mexico markets push Walmart global business grow 13% in Q2
3 years, 4 months ago

India, Mexico markets push Walmart global business grow 13% in Q2

The Hindu  

US retail giant Walmart saw its operations in markets such as India, China and Mexico push its international business growth by 13% in the second quarter ended July 31, with e-commerce continuing to expand its share in the segment. Net sales grew nearly 13 per cent in constant currency including strength in India, Mexico and China," Walmart president and CEO …

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart
3 years, 4 months ago

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart

News 18  

Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said …

Walmart-Owned Flipkart Raises USD 3.6 Billion In Funding, Now Values At 37.6 Billion
3 years, 5 months ago

Walmart-Owned Flipkart Raises USD 3.6 Billion In Funding, Now Values At 37.6 Billion

ABP News  

Mumbai: Walmart-owned Flipkart has raised $3.6 billion in the new caption from its promoters and investors, SoftBank Group Corp, valuing the e-commerce firm at $37.6 billion, more than double the amount, for which US retail giant bought a 77 percent stake in 2018. The investors in the latest funding include financial investors GIC, Canada Pension Plan Investment Board, SoftBank Vision …

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion
3 years, 5 months ago

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion

India TV News  

Flipkart Group on Monday said it has raised USD 3.6 billion in funding led by GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at USD 37.6 billion. The current funding round has The investment values the Group at USD 37.6 billion post-money, Flipkart said in a statement. As we serve our consumers, …

Flipkart IPO: Walmart says ready for e-commerce giant's IPO but no specific timeline yet
3 years, 6 months ago

Flipkart IPO: Walmart says ready for e-commerce giant's IPO but no specific timeline yet

India TV News  

US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International President and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "But if …

Tata Group Looking for Stake in IPO-bound Online Grocer BigBasket: Report
4 years, 2 months ago

Tata Group Looking for Stake in IPO-bound Online Grocer BigBasket: Report

News 18  

Salt-to-software conglomerate Tata Group is in talks with Indian online grocery startup BigBasket to buy a stake in the company, the Mint newspaper reported, citing people familiar with the matter. The century-old group has been planning to launch a ”super app”, one that will tie in all its consumer businesses, several media reports have said, as it competes against Amazon …

Walmart, Flipkart invest $30 million in Ninjacart
4 years, 2 months ago

Walmart, Flipkart invest $30 million in Ninjacart

Live Mint  

US-based retailer Walmart Inc. and Flipkart Group have made an additional investment in Bengaluru-based fresh produce supply startup Ninjacart, the companies said in a joint statement on Monday. Kalyan Krishnamurthy, CEO, Flipkart Group said the e-grocery market has seen tremendous growth over the past several months as people have increasingly taken to ordering groceries and fresh produce online. “At the …

Walmart India’s losses widen to ₹299 cr in FY20
4 years, 2 months ago

Walmart India’s losses widen to ₹299 cr in FY20

Live Mint  

New Delhi: Walmart India Private Limited, which operates 28 wholesale stores under the Best Price Modern Wholesale format, reported net loss of ₹299.20 crore for the year ended 31 March, 2020. Walmart India, whose wholesale business was recently acquired by e-commerce major Flipkart Group, had reported a net loss of ₹171.68 crore in FY19, according to financial data accessed by …

Coming up! 3 lakh jobs in e-com as Amazon, Flipkart ready festival sales
4 years, 2 months ago

Coming up! 3 lakh jobs in e-com as Amazon, Flipkart ready festival sales

India TV News  

With the festive season round the corner, e-commerce firms such as Amazon and Flipkart are ramping up their delivery capabilities, by investing in warehousing infrastructure as well as hiring more on-ground staff. Flipkart: Walmart-owned Flipkart recently said that it will hire 70,000 people in its supply chain operations ahead of the festive season sales and its flagship Big Billion Days …

Walmart's Flipkart Starts Wholesale E-commerce Service in India
4 years, 3 months ago

Walmart's Flipkart Starts Wholesale E-commerce Service in India

News 18  

India’s Flipkart launched an online wholesale service for mom-and-pop stores and other small businesses on Wednesday, as the Walmart-owned firm seeks to better compete with Amazon and other players in a battleground market for e-commerce. Flipkart, majority-owned by Walmart Inc, bought the U.S. retail giant’s wholesale business in India in July. Amazon.com Inc and other e-commerce players including online grocery …

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn
4 years, 5 months ago

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn

The Quint  

Indian e-commerce giant Flipkart has raised $1.2 billion in a funding round led by its majority stakeholder Walmart along with other existing shareholders. This is the largest fund raising for Flipkart since Walmart acquired the retail platform two years ago for $16 billion. Flipkart CEO Kalyan Krishnamurthy, in a statement, said, “Since Walmart’s initial investment in Flipkart, we have greatly …

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