Flipkart to relocate HQ to India ahead of IPO

Flipkart, the Indian e -commerce company, is preparing for the Woody, which is closely fighting in South Asia, to transfer its headquarters to India from Singapore, where the company is preparing to submit it to the public subscription on the Indian stock exchanges.

On Monday, Flipkart said this step “represents a natural development, as it corresponds to the structure of the reservation with our basic operations and the tremendous potential of the Indian economy.”

The e -commerce giant, whose operations began in 2007 in Bangaluru, transferred its headquarters to Singapore in 2011 to attract more foreign investments, benefit from tax benefits, and better move in bureaucratic obstacles and political challenges in India.

“As a company that was born in India, this transition will enhance our focus and lightness in the service of our customers, sellers, partners and societies to continue contributing to the growing digital economy and entrepreneurship,” Flipkart spokesman said in a statement.

The startup said that the transport is subject to the required approvals, without revealing a specific timetable. However, Flipkart is expected to offer public subscription in the country at some point next year.

In 2022, Walmart, which was separated from Flipkart in late 2022, was transferred to India from Singapore. Many other startups, including Zepto and Groww, have transferred its headquarters to India in the past few months, where they requested general lists of Indian stock exchanges.

However, the current public market environment in India is not attractive as it happened until late last year, as the market passes some corrections and is affected by the total conditions. Subscriptions represent subscriptions about $ 19 billion in the size of the stock deal worth $ 70 billion in India last year, where the cost of 11 subscriptions is more than $ 500 million, for each report from Goldman Sachs.

However, investors are optimistic about growth capabilities in the Indian market, where many companies are waiting for this year and after that.

“The supportive evaluation environment has stimulated the source activity. Many of the only people who were considering moving to the United States in the United States have shifted to India because they felt that India had supported a better evaluation.”

The last step by Flipkart is almost a year after the 350 million dollar collection of Google as part of a financing round of approximately one billion dollars, which started in 2023. The starting start value reached $ 36 billion in the last investment.