Flipkart plans India IPO next year, targets up to $70 billion valuation

The Walmart-owned company has initiated steps to relocate its holding company from Singapore to India, a move intended to smooth the path for a domestic listing

Flipkart, the Walmart-backed e-commerce giant, is aiming to go public in India as soon as next year, with an IPO valuation target of $60 billion to $70 billion, according to people familiar with the matter.

 

If realised, the offering would rank as the largest consumer tech IPO in India’s history.

 

The company, based and operating in India, has initiated steps to relocate its holding company from Singapore to India, a move intended to smooth the path for a domestic listing. 

 

Flipkart’s board has approved the redomiciling process, which is expected to be completed ahead of its IPO within the next