Flipkart shifts headquarters to India as company prepares for IPO

Indian e-commerce giant Flipkart has shifted its headquarters from Singapore back to India as it prepares for a potential initial public offering in the coming months.

The move comes more than 10 years after Flipkart originally relocated its headquarters overseas. People familiar with the company said it is aiming for a stock market listing in India during the financial year ending March 2027.

Walmart-owned Flipkart's IPO plans come at a time when India's e-commerce market is growing quickly, supported by an expanding internet user base that has already crossed 1 billion subscribers. The relocation also reflects a broader pattern among Indian startups, including Zepto and Groww, which have moved their overseas holding structures back to India in recent years as they prepare to go public. Groww completed its public listing last year, while Zepto confidentially filed for an IPO in December.

Sources said Flipkart's gross merchandise value rose to around $30 billion in 2025, compared with about $23 billion in 2021. The platform now serves more than 500 million customers and 1.6 million sellers across India, while its logistics division, Ekart, reaches more than 22,000 PIN codes nationwide.

Founded in Bengaluru in 2007, Flipkart was among several Indian startups that established overseas holding structures to attract foreign capital, benefit from tax advantages, and navigate India's regulatory environment more effectively at the time. In 2018, Walmart acquired a majority stake in Flipkart for $16 billion.

India has been pushing for more technology companies to list on domestic exchanges, as businesses seek greater regulatory certainty and simpler tax arrangements by bringing their headquarters back to the country.

Flipkart had announced plans to move its headquarters back to India in April 2025. By September, the restructuring had received in-principle approval from a court in Singapore, while hearings linked to the shift were also held before India's National Company Law Appellate Tribunal, according to people familiar with the matter at the time.

"Flipkart has received Government of India 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," a company spokesperson said.