Flipkart has completed the process of shifting its holding company domicile from Singapore back to India, a key structural move as the e-commerce company prepares for a potential domestic initial public offering.
The company said it received approval from the Government of India for its internal restructuring, under which Flipkart Internet Private Limited has become the holding entity of the Flipkart group.
“This completes the redomiciliation of the Flipkart group to India, a significant milestone that reflects our deep and long-term commitment to India,” a Flipkart spokesperson said. “We are grateful to the Government of India for its support and look forward to the next phase of Flipkart’s growth as a fully Indian-domiciled company.”
The restructuring aligns Flipkart’s corporate domicile with its India-focused business operations and removes a major structural hurdle for companies incorporated overseas that want to list on Indian stock exchanges.
The company is majority-owned by Walmart, which acquired a controlling stake in Flipkart in 2018 in one of the largest deals in India’s e-commerce sector.
According to earlier reports, Flipkart has begun preliminary discussions with investment banks including Goldman Sachs, Morgan Stanley, JPMorgan and Kotak Mahindra Capital to explore a possible public listing in India.
While the IPO process is still at an early stage, the redomiciliation is considered an important step that could help streamline regulatory requirements and bring the company closer to a domestic stock market debut.
