Athira Sethu
Kochi, 9 December 2024
Flipkart, is all set to go for its IPO in the next 12-15 months, a report in the Economic Times said. This is likely to value the company worth $36 billion. This will be one of the biggest IPOs the country has ever seen. Flipkart, owned by US retail giant- Walmart, has already shifted its legal base from Singapore to India. This is one of the important steps before its shares can be listed on a stock market.
According to the Economic Times, Flipkart will pursue an IPO at the end of 2025 or the beginning of 2026. A number of new-age Indian companies have planned to list in 2025, following the success of IPOs from companies like Zomato, Nykaa, and Swiggy, which has sparked a lot of interest among retail investors.
Flipkart had almost raked in nearly $1 billion this year alone. Google was the key source, which injected around $350 million. Talks over its IPO started in 2021. The market conditions became challenging for it to make progress at that time.
An eventual flipkart IPO may be significant profit-generator for Walmart; after all, Walmart itself purchased a majority stake of the company in 2018, and has since injected over $2 billion more. Walmart owns 81 percent of Flipkart today, the report said.
Flipkart’s advertising business grew fast in FY24, garnering almost Rs 5,000 crore. The e-commerce segment of the company also registered a 21% revenue growth to Rs 17,907 crore, while losses were reduced by 41%. Besides e-commerce, Flipkart is also focusing on payments and lending with a new app called Super.money and UPI payment options.
