Flipkart eyes D-St listing in 12-15 months; here are all details available so far

Domestic e-commerce giant Flipkart is eyeing to launch its initial public offering (IPO) in a definite timeline of 12-15 months, Economic Times reported citing sources. Walmart-backed Flipkart is India's largest e-commerce player valued at $36 billion. The proposed IPO is likely to be the biggest primary offering by any Indian new-age internet company.

In order to launch its IPO, Flipkart has secured internal approval to move its based/domicile to India from Singapore. The company is likely to launch its primary offering by the end of CY2025 or the first quarter of CY27. The report from the Indian daily said that the process has begun and the company is likely to get listed in the stipulated timeline.

Flipkart's Indian IPO will be another addition to India's new age internet-based companies which are already listed at the bourses by 2025 including Zomato, Nykaa, Swiggy, One97 Communications (Paytm) and PB Fintech. Flipkart is moving back its parent company to India.

Flipkart has been looking to debut at Dalal Street from quite a time but the plans, which began in late 2021, were put on hold following adverse market conditions in 2022-23. The online major has raised nearly $1 billion funding this year, of which Google invested $350 million in the company.

Walmart holds a majority 81 per cent stake in Flipkart, while other investors own 19 per cent stake in the company. For the financial year 2023-24, Flipkart reported a loss of Rs 2,358 crore with a revenue of Rs 17,907 crore. The losses in FY23 stood at Rs 3,999 crore with a revenue of 14,825 crore.

Indian IPO markets have remained busy in the current calendar. About 80 companies have raised more than Rs 1.2 lakh crore from the Indian primary market investors including names like Hyundai India, NTPC Green and Swiggy Ltd. These three issues raised about Rs 49,000 crore via primary route.