Flipkart is in the advanced stages of securing regulatory approvals to shift its headquarters from Singapore to India, with the transition aiming for later this year, TechCrunch has learned, as Walmart’s e -commerce giant is preparing for an Indian iPo next year.
The reconstruction procedure has been approved by a Singapore Court, and several hearings have already taken place at the National Court of Court of Justice of India (NCLAT). Flipkart is working to complete the transition over the next two months, aligning with the festive period of India – a critical sales period – and the placement of issues for a public entry expected in 2026.
The relocation of their base helps companies align with the evolving local regulations and meet the requirements for domestic stock lists. It also makes sense to use India’s public markets, given the enlarged investor basis and the increasing appetite for iPos. The trend reflects the increasing maturity and attractiveness of India capital markets compared to alternatives abroad.
Flipkart started the process in India and Singapore at the same time two and a half months ago, following the approval of the Board of Directors for the relocation of their headquarters in April, the people said.
In 2022, the Phonepes backed by Walmart, which had separated from Flipkart in late 2022, transferred its headquarters from Singapore to India. Fintech filed confidential IPO documents with the India Market Regulatory Authority, the India Securities and Exchange Council (Sebi) earlier this week. Recent reports indicate that the phone is with the aim of increasing 120 billion. (about $ 1.35 billion) through the offer.
The newly established businesses, such as Zepto and Groww, have also moved their headquarters to India in recent months as they are preparing to be made public on Indian stock markets. Specifically, Groww is going to become the first Indian launch to list the domestic market after the US reconstruction, with IPO expected later this year.
Flipkart’s shift from Singapore’s headquarters comes for more than a year, having raised $ 350 million from Google as part of a funding of about $ 1 billion in 2023.
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Flipkart did not respond to requests for comments.
