IPO-bound Flipkart shifts domicile to India

Flipkart, the leading Indian e-commerce platform backed by Walmart, has officially shifted its domicile to India, marking a pivotal step ahead of its anticipated Initial Public Offering (IPO). The company's restructuring, approved by the Government of India, designates Flipkart Internet Private Limited as the holding entity of the Flipkart group. This transition is viewed as a significant milestone, reinforcing Flipkart's commitment to the Indian market. The redomiciliation aligns the company with local regulations, potentially enhancing its valuation and signaling a long-term investment in India. In the fiscal year 2025, Flipkart reported a gross merchandise value of USD 30 billion, supported by over 500 million customers and 1.6 million sellers. Despite this growth, Flipkart recently announced job cuts affecting 250-300 employees across various departments, following a routine performance review. The restructuring process also involved merging eight Singapore-based entities into Flipkart Internet Pvt Ltd, aiming to streamline operations across its diverse business sectors, including fashion and logistics. As part of its strategic preparation for the IPO, Flipkart has been bolstering its senior leadership team with key appointments in various roles, underlining its focus on future growth in the competitive e-commerce landscape of India.