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Flipkart Likely To Launch International IPO As Early As 2021: Report

By Staff
|

Flipkart is preparing for an initial public offering (IPO) overseas as early as 2021, which could value the firm up to $50 billion, a Reuters report said citing sources familiar with the company's plans.

The Walmart-owned Indian e-commerce platform will be aiming for a valuation in the $45-$50 billion range, the report said adding that it that would mean Walmart would have more than doubled its investment.

Flipkart Likely To Launch International IPO As Early As 2021: Report
 

One of Reuters' sources said that Flipkart is likely to choose between Singapore or the US for its IPO. The company was incorporated in Singapore, but listing in the US, where parent Walmart is headquartered, could give it access to a deeper pool of funds, the source said.

The company is currently discussing internally and is preparing to tap external advisers on the process soon with a target to be listed in late 2021 or early 2022.

The discussions come as India drafts new regulations that could pave the way for domestic companies to directly list overseas.

Read more about: flipkart ipo
Story first published: Wednesday, September 16, 2020, 23:38 [IST]
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