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Flipkart Eyes India Listing After Singapore Domicile Shift
16 Dec
Summary
- Flipkart received NCLT clearance to shift domicile from Singapore to India.
- The move signals Flipkart's progress towards a local public listing in 2026.
- Government approval under Press Note 3 is required due to Tencent's stake.
Walmart-owned e-commerce giant Flipkart has secured clearance from the National Company Law Tribunal (NCLT) to shift its corporate domicile from Singapore to India. This pivotal step advances Flipkart's ambition for a much-anticipated local public listing, with the company aiming to file draft IPO papers in 2026.
Further regulatory approval is required from the central government under Press Note 3 rules, necessitated by Chinese investor Tencent's 5-6% stake in Flipkart. While this adds a layer of scrutiny, Flipkart's majority ownership by US parent Walmart is expected to mitigate potential challenges.
Upon completion of this 'flipback' process, the Bengaluru-based Flipkart Internet Pvt Ltd will consolidate all operations, including subsidiaries like Myntra and Ekart, becoming the primary Indian entity and paving the way for its domestic IPO.
