Flipkart IPO? The Latest News on When the “Amazon of India” Plans to Go Public

More details about the upcoming Flipkart initial public offering (IPO) are coming to light after the company’s CEO weighed in on the subject.

Image of the Flipkart logo on a smartphone sitting in a small shopping kart representing IPO news.

Source: Burdun Iliya / Shutterstock.com

According to Flipkart CEO Kalyan Krishnamurthy, the company wants to go public sometime next year. The current goal is for a November or December IPO. However, market conditions and other factors could push that back to Q1 2023 if the timing isn’t right.

Flipkart also has other plans before the launch of its IPO. That includes its intention to hold a funding round during the first quarter of 2022. The company would do so to set a valuation for it ahead of its IPO.

It’s also worth noting that Flipkart may be looking at an overseas IPO. That could see the company list shares of its stock in the U.S. in hopes of reaching a larger collection of investors as compared to its native country of India.

Another point worth highlighting is Walmart’s (NYSE:WMT) investment in Flipkart. The U.S. retailer took a 77% stake in the Indian e-commerce company back in 2018. Now its holdings in the company are at 75%.

Talk of a Flipkart IPO has been around for some time now. The original reports started showing up in April and claimed the company planned to go public by the end of the year. Clearly, that isn’t the case anymore as market conditions seem to have delayed the public launch of the company’s stock.

Potential investors in Flipkart will want to keep an eye on the company as we’re likely to see an SEC filing for its IPO sometime next year.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/12/flipkart-ipo-the-latest-news-on-when-the-amazon-of-india-plans-to-go-public/.

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