Group of senior executives exit IPO-bound Flipkart in recent months

Departures come as Flipkart gears up for a $60-70 billion IPO and expands its quick-commerce play against rivals like Blinkit, Swiggy Instamart, and Zepto

A group of senior executives has left Flipkart in recent months, according to people familiar with the matter, as the e-commerce firm prepares for a potential initial public offering (IPO).

 

The departures include Ankit Jain, Senior Vice-President and Head of Grocery and Large Supply Chain; Prajakta Kanaglekar, Vice-President of Human Resources for Technology; and Anurag Singhvi, Vice-President and Head of Analytics. Ganesh Ramaswamy, who served as a Vice-President at Flipkart and as Chief Product and Technology Officer at Cleartrip, a Flipkart subsidiary, has also exited the company.

 

“These executives left Flipkart over the past few months to pursue personal ambitions and career goals,” said a person familiar with the matter.

 

 

Singhvi had been with Flipkart for 13 years, while Jain, Ramaswamy, and Kanaglekar each spent nearly six years at the company.

 

Ankit Jain is likely to join Swiggy Instamart as Senior Vice-President, potentially replacing Chief Operating Officer Sairam Krishnamurthy, according to people aware of the development. Jain is expected to work closely with Amitesh Jha, Chief Executive of Swiggy Instamart and a former Flipkart colleague, with whom he worked until August 2024.

 

Flipkart and Swiggy declined to comment on these developments.

 

In February, Flipkart’s Chief Product and Technology Officer, Jeyandran Venugopal, stepped down after an eight-year stint, according to an internal note from CEO Kalyan Krishnamurthy. He attributed the decision to “personal reasons”.

 

These exits come at a time when Flipkart, which is backed by Walmart, is aiming to go public in India as early as next year, targeting an IPO valuation of $60 billion to $70 billion, according to sources. If realised, it would be the largest consumer tech IPO in India’s history.

 

As part of its preparations, the company — headquartered and operating in India — has initiated the process of shifting its holding company from Singapore to India, a move intended to streamline the path to a domestic listing.

 

The leadership churn also comes as Flipkart prepares to compete more aggressively in the quick-commerce space. Its Flipkart Minutes offering will rival players such as Swiggy Instamart, Zomato-backed Blinkit, and Zepto.