Flipkart Shifts Domicile Back to India Ahead of IPO Plans
Walmart-owned ecommerce firm completes reverse flip from Singapore after regulatory approvals.
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Walmart-owned e-commerce company Flipkart has completed its “reverse flip” to India after securing regulatory approvals, shifting its corporate domicile from Singapore as it prepares for a domestic stock market listing.
In a statement reported by Reuters, Flipkart said it had received Indian government approval for internal restructuring and had completed the redomiciliation of the group to India, calling the move a “significant milestone.”
The restructuring follows approval from the National Company Law Tribunal (NCLT), whose principal bench in New Delhi sanctioned a merger-and-amalgamation scheme in December allowing several Singapore-incorporated Flipkart group entities to merge with Flipkart Internet Pvt. Ltd, the company’s Indian operating arm.
The process ultimately enabled the Singapore holding company to be folded into the Indian entity, consolidating major businesses including fashion platform Myntra and logistics arm Ekart under a single India-based structure.
The move clears an important structural hurdle ahead of Flipkart’s planned initial public offering in India, which could take place before March 2027, though the valuation and size of the offering have yet to be finalized, Reuters reported, citing people familiar with the matter.
Flipkart had moved its holding structure to Singapore in 2011, a step many Indian startups took at the time to access global capital and simplify overseas investment structures. As India’s domestic capital markets have deepened, several technology firms have begun relocating their holding companies back to India to facilitate local listings.
Payments firm PhonePe, also owned by Walmart earlier through Flipkart, completed a similar domicile shift to India in recent years as part of preparations for its own listing plans.
