Flipkart logo
Credit: Reuters File Photo
Bengaluru: Walmart-backed Flipkart moved its holding company from Singapore to India, the e-commerce firm said in a statement on Tuesday, ahead of a likely 2026 initial public offering (IPO). With this it has joined several startups including Zepto, Groww, PhonePe which shifted their domicile to India from Singapore.
“Flipkart, India’s homegrown e-commerce platform, proudly based and operating in India, has shared its intention to relocate its holding company from Singapore to India. This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” it said in a statement.
Flipkart is a 17-year old company, founded in 2007, which started off by selling books online and turned into an e-commerce giant, now in a duopoly market in India, competing with Amazon. It had moved its holding company to Singapore in 2011, like others to access benefits from a favourable tax regime and also access international capital.
However, as India is witnessing a major interest from investors, the company would benefit from the market here.
Walmart bought a controlling stake in Flipkart in 2018.