India's largest e-commerce platform Flipkart, valued at $36 billion, is gearing up for an initial public offering (IPO) within the next 12 to 15 months.
One of the most significant listings by a new-age company in India could result in the country's rise as one of the world's largest startup ecosystems.

The Walmart-owned firm secured internal approval to relocate its headquarters from Singapore to India, a crucial step towards the public offering. The public offering is expected to take place by the end of 2025 or early 2026.

Investor enthusiasm for consumer internet firms has been fueled by the successful public listings of companies like Zomato, Nykaa, and Swiggy.

The Singapore-based Flipkart Pvt Ltd operates through several Indian subsidiaries, handling its online marketplace, logistics, payments, and other business areas.

Flipkart's long-term market strategy is aligned with moving its holding company to India. Startups like PhonePe and Zepto have taken similar steps to highlight the growing appeal of local listings, fueled by favorable appraisals and familiarity with investors.

The rapid growth of India's e-commerce sector is underscored by the evolution of Flipkart from a 2007 online bookstore to a market leader. The retail sector earned Rs.1 trillion in festive season sales in 2024, with Flipkart retaining its dominant position despite stiff competition from giants like Amazon.

Flipkart has expanded its business into payments, advertising, and fast deliveries to diversify its business. The debut of its UPI payments app, Super.money, exemplifies its larger goals of establishing multiple revenue avenues.