Flipkart redomiciles to India ahead of IPO after government approval for restructuring

IPO-bound Flipkart has completed a move to base its group structure in India. The Walmart-backed firm said an internal restructuring, cleared by the Government of India, made Flipkart Internet Private Limited the group holding company. Flipkart said the change finished the group’s redomiciliation to India before a planned Initial Public Offering IPO.

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The company described the shift as a key step showing long-term focus on India. "We are grateful to the Government of India for its support and look forward to the next phase of Flipkarts growth as a fully Indian-domiciled company,\" a Flipkart statement said. The firm also said it was preparing for its next stage as an India-domiciled business.

Flipkart IPO plan and India domicile shift

Companies often use a reverse flip before an IPO to move a parent entity to India. This can match local rules and may support valuations. It also signals a longer commitment to the Indian market. Flipkart’s restructuring now places group ownership under Flipkart Internet Private Limited, as the holding entity.

In December 2025, the National Company Law Tribunal NCLT approved a plan to shift Flipkart’s legal domicile from Singapore to India. The change aimed to simplify the holding setup across fashion, health, and logistics units. It included merging eight Singapore-based entities into Flipkart Internet Pvt Ltd to meet Indian regulatory needs.

Flipkart Group scale, GMV and customer base

According to sources, Flipkart Group recorded USD 30 billion in gross merchandise value GMV in the 2025 calendar year. Sources linked this to more than 500 million customers on its platforms. The same sources said the group worked with 1.6 million sellers across its marketplace and related services.

Flipkart Group companies include Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money. The businesses span online retail and fashion, along with travel and payments. The restructuring was also linked to bringing these parts under a simpler holding model. The company did not detail any operational changes in the announcement.

Flipkart workforce changes ahead of IPO

Sources said last week that Flipkart reduced staff by 250-300 employees after its annual performance review. The cuts covered several teams and levels, sources said. This took place while the firm continued senior hiring linked to IPO preparation. Flipkart did not confirm the number affected by the review.

\"Flipkart conducts regular performance reviews aligned with clearly defined expectations. As part of this process, a small percentage of employees may transition from the organisation. We are supporting affected employees with transition support,\" Flipkart said in a statement on Friday. Sources had estimated the affected headcount at 250 to 300.

Flipkart financial results and expenses in FY25

Flipkart India reported a wider consolidated loss of Rs 5,189 crore in FY25, Tofler data showed. The loss compared with Rs 4,248.3 crore in FY24. Consolidated revenue from operations rose 17.3 per cent to Rs 82,787.3 crore in FY25. It was Rs 70,541.9 crore in FY24.

Total expenses increased 17.4 per cent to Rs 88,121.4 crore during FY25. Stock-in-trade purchases drove much of the rise, reaching Rs 87,737.8 crore. That compared with Rs 74,271.2 crore a year earlier. The figures reflected a larger cost base alongside higher revenue from operations.

Flipkart leadership appointments and management bench

Over recent months, Flipkart made several senior appointments as it built its leadership bench. The hires included Somnath Das as VP, Supply Chain, and Digbijay Mishra as VP, Corporate Communications. Vipin Kapooria joined as VP, Business Finance, and Yogita Shanbhag as VP, Human Resources.

Flipkart also appointed Amer Hussain as VP, Supply Chain, for grocery and minutes quick commerce. The company has not linked these roles to specific business units in detail. The announcements came during preparations for a planned IPO and while the holding structure was being simplified. Flipkart said the redomiciliation process was completed.

With inputs from PTI