Flipkart is in the advanced stages of securing regulatory approval to moving its headquarters from Singapore to India, and the transition is targeted for this yr, TechCrunch learned when the e-commerce giant belonging to Walmart prepares for Indian IPO next yr.
The means of re -determination received approval according to the court in Singapore, while several interrogations have already taken place in the National Court of Appeal of the National Company (Nclat), people familiar with the case said TechCrunch. Flipkart is working on completing the passage in the next few months, adapting to the holiday season of India – a critical sales period – and laid the foundations under the public list expected in 2026.
Flipkart initiated this process in India and Singapore at the same time greater than two and a half months ago, after approving the management board to transfer its headquarters in April.
In 2022, Phonepe was supported by Walmart, who parted with Flipkart at the end of 2022, moved his headquarters from Singapore to India. FinTech submitted confidential IPO documents to the Indian market regulator, securities and Exchange Board of India (SEBI) at the starting of this week. Recent reports suggest that Phonepe is striving to collect 120 billion (about $ 1.35 billion) through the offer.
Startups, including Zeput and Groww, have also moved to India in recent months, preparing for public work on Indian stock exchanges. In particular, Groww will develop into the first Indian startup who mentioned the national list after re -resolution with the USA, and IPO was expected this yr.
Flipkart from the headquarters of Singapore takes place over a yr after it raised $ 350 million from Google as a part of the financing round of virtually $ 1 billion, which began in 2023. The company was valued at $ 36 billion in the last investment, which makes it the most dear startup in order to perform the means of re -implementation.
Flipkart didn’t respond to comments.
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