Flipkart is preparing to formally invite banks to pitch for roles in its potential IPO as early as next month, with the listing possibly occurring in late 2026 or early 2027. The Walmart-backed company has already held informal talks and recently secured approval to shift its legal domicile from Singapore to India, a key step for a local listing.
The IPO is likely to include a secondary share sale by existing investors like Walmart, with proceeds aimed at business expansion. Deliberations are still at an early stage and details, including timing, are subject to change.
The main topics covered are Flipkart's IPO preparations and timeline, its corporate restructuring for the listing, and the context of the Indian e-commerce market and stock exchange environment.
Online retailer Flipkart Internet Pvt is set to start the formal process for banks to pitch for work on its potential initial public offering as soon as next month, according to people familiar with the matter.
The Walmart Inc.-backed e-commerce company has already held informal talks with investors and bankers to gauge appetite for a listing in Mumbai, the people said. An IPO could take place later this year or early 2027, they said, asking not to be identified because the information isnât public.
Deliberations are at an early stage and details such as timing may change, the people said. A Flipkart representative didnât respond to a request for comment.
If the IPO goes ahead, it is likely to include a secondary share sale by existing investors such as Walmart, the people said. Flipkart will use the proceeds to expand the business, they added.
Founded in 2007, Flipkart has become one of Indiaâs biggest e-commerce platforms, with a registered customer base of more than 500 million, according to its website. Walmart bought a 77% stake for $16 billion in 2018 and later increased that holding with further acquisitions. A 2023 purchase of Tiger Global Managementâs remaining stake valued Flipkart at $35 billion at the time.
Moneycontrol reported last week that Flipkart was in preliminary discussions with investment banks about the listing.
Flipkart said Monday it had received government approval to shift its domicile from Singapore to India, a key step toward a listing in the country, where 2025 was a boom for share sales. Other listed companies in Indian e-commerce include Lenskart Solutions Ltd., Swiggy Ltd. and Zomato. Sentiment has cooled in 2026 after some disappointing debuts and a nearly 10% decline in the Sensex.
Flipkart and others compete with Amazon.com Inc., Relianceâs JioMart and Tata Group in Indiaâs vast online retail market. Flipkart also owns other platforms including fashion retailer Myntra and travel booking site Cleartrip.
The Walmart Inc.-backed e-commerce company has already held informal talks with investors and bankers to gauge appetite for a listing in Mumbai, the people said. An IPO could take place later this year or early 2027, they said, asking not to be identified because the information isnât public.
Deliberations are at an early stage and details such as timing may change, the people said. A Flipkart representative didnât respond to a request for comment.
If the IPO goes ahead, it is likely to include a secondary share sale by existing investors such as Walmart, the people said. Flipkart will use the proceeds to expand the business, they added.
Founded in 2007, Flipkart has become one of Indiaâs biggest e-commerce platforms, with a registered customer base of more than 500 million, according to its website. Walmart bought a 77% stake for $16 billion in 2018 and later increased that holding with further acquisitions. A 2023 purchase of Tiger Global Managementâs remaining stake valued Flipkart at $35 billion at the time.
Moneycontrol reported last week that Flipkart was in preliminary discussions with investment banks about the listing.
Flipkart said Monday it had received government approval to shift its domicile from Singapore to India, a key step toward a listing in the country, where 2025 was a boom for share sales. Other listed companies in Indian e-commerce include Lenskart Solutions Ltd., Swiggy Ltd. and Zomato. Sentiment has cooled in 2026 after some disappointing debuts and a nearly 10% decline in the Sensex.
Flipkart and others compete with Amazon.com Inc., Relianceâs JioMart and Tata Group in Indiaâs vast online retail market. Flipkart also owns other platforms including fashion retailer Myntra and travel booking site Cleartrip.
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