Indian e-commerce company Flipkart has relocated its headquarters from Singapore back to India as it prepares for a potential public listing in the coming years.
The move marks a reversal of the company’s earlier decision to base its holding structure overseas. People familiar with the matter told TechCrunch that Flipkart is targeting an initial public offering in India during the financial year ending March 2027.
Flipkart is majority-owned by Walmart.
Relocation Aligns With Growing IPO Plans
The company’s return to India comes as it prepares for a possible domestic stock market debut.
India’s e-commerce market has expanded rapidly in recent years, driven by rising internet adoption. The country now has more than one billion internet subscribers.
Several Indian startups that previously structured their headquarters abroad have also begun relocating back to India ahead of planned public listings.
Companies including Zepto and Groww have undertaken similar restructuring in recent years.
Groww completed its public listing last year, while Zepto filed confidentially for an IPO in December.
Flipkart’s Market Growth And Operations
Flipkart has grown substantially since its early years as an online retailer.
Sources told TechCrunch that the company’s gross merchandise value reached about $30 billion in 2025, up from around $23 billion in 2021.
The platform now serves more than 500 million customers and works with roughly 1.6 million sellers across India.
Flipkart’s logistics arm, Ekart, delivers products to more than 22,000 PIN codes across the country.
Background On Flipkart’s Overseas Structure
Flipkart was founded in 2007 in Bengaluru.
Like many Indian technology startups at the time, the company later established an overseas holding structure.
Such arrangements helped startups attract international investment, access tax advantages, and navigate regulatory requirements in India.
In 2018, Walmart acquired a majority stake in Flipkart in a deal valued at $16 billion.
India Encouraging Domestic Listings
Indian regulators have been encouraging technology companies to list on domestic exchanges rather than overseas markets.
Some startups are restructuring their corporate structures to simplify taxation and regulatory compliance ahead of IPO plans.
Flipkart first announced its intention to relocate its headquarters back to India in April 2025.
By September of that year, the restructuring had received in-principle approval from a Singapore court.
Related hearings were also held before India’s National Company Law Appellate Tribunal, according to people familiar with the process.
Company Confirms Completion Of Restructuring
“Flipkart has received Government of India approval for its internal restructuring, pursuant to which Flipkart Internet Private Limited is now the holding entity of the Flipkart group,” the spokesperson said.
“This completes the redomiciliation of the Flipkart group to India, a significant milestone that reflects our deep and long-term commitment to India.”
Featured image credits: RootConf 2014 – Day 2 via Wikimedia Commons
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