Flipkart moves domicile to India from Singapore, clears path for IPO

Flipkart has officially redomiciled from Singapore to India, marking a major milestone that clears the path for the e-commerce giant’s anticipated public listing.

Flipkart, in a statement, confirmed the development and said that it has received the Government of India’s approval for its internal restructuring, pursuant to which Flipkart Internet Private Limited is now the holding entity of the Flipkart group.

"This completes the redomiciliation of the Flipkart group to India, a significant milestone that reflects our deep and long-term commitment to India. We are grateful to the Government of India for its support and look forward to the next phase of Flipkart’s growth as a fully Indian-domiciled company," it added.

According to reports, the e-commerce firm has begun preliminary discussions with several investment banks to evaluate its public market debut. Last week, the company cut 250-300 jobs following annual performance reviews.

In a statement to DH, the company said, "Flipkart conducts regular performance reviews aligned with clearly defined expectations. As part of this process, a small percentage of employees may transition from the organisation. We are supporting affected employees with transition support."