The relocation, announced Monday, follows approval from the Indian government for the company’s internal restructuring and completes what Flipkart described as its “redomiciliation” to India — a move the firm called a significant milestone in its corporate journey.
The decision places Flipkart among a growing number of Indian startups returning their headquarters to India after years of being registered overseas. Many tech firms previously chose financial hubs such as Singapore to access international capital markets and benefit from lower tax burdens. However, improved IPO prospects and stronger domestic capital markets in India are now encouraging these companies to shift back home.
Founded in 2007 as an online bookstore, Flipkart rapidly evolved into one of India’s largest e-commerce platforms, becoming a key competitor to Amazon in the country’s fast-growing online retail market. The company moved its holding structure to Singapore in 2011 as it expanded and sought global investment.
In 2018, U.S. retail giant Walmart acquired a controlling stake in Flipkart in a deal valued at $16 billion, one of the largest foreign investments in India’s digital economy.
Flipkart’s most recent valuation came in 2024, when Alphabet’s Google purchased a $350 million minority stake, valuing the company at around $37 billion.
The company is targeting a stock market listing in Mumbai before March 2027, according to a source with direct knowledge of the plans. Details such as the IPO size and final valuation, however, have yet to be determined.