Flipkart Group CFO Sriram Venkataraman is stepping down from his role, the e-commerce major said in a statement on Friday. In the interim, Flipkart CFO Ravi Iyer will oversee the broader finance function.
The development comes ahead of the Walmart-backed company’s planned initial public offering (IPO) in India.
Venkataraman, who has been with Flipkart for over a decade, will exit over the next few months. The company has not yet named a successor.
“Sriram will remain with the company for a period of time to ensure continuity and a smooth transition. During this period, Ravi Iyer, CFO, Flipkart, will oversee the broader finance organisation,” the company said.
Flipkart also announced the appointment of Nishant Verman as senior vice president. He will oversee corporate development and partnerships.
What we know about Flipkart IPO
According to a Bloomberg report, Flipkart is set to start the formal process for banks to pitch for work on its potential IPO as soon as next month.
The e-commerce company has reportedly held informal talks with investors and bankers to gauge appetite for a public listing in Mumbai, the report said, citing people aware of the matter.
The IPO could take place later this year or early 2027, though the timing may change as deliberations are still at an early stage, the agency reported.
Flipkart layoffs
The Group CFO's exit also comes shortly after Flipkart asked around 400-500 employees to exit the company this year, based on its performance review.
The layoffs accounted for roughly 3-4% of Flipkart's total workforce, higher than the usual 1-2% of employees in the lowest performance bracket that the company typically lets go each year.
"Flipkart conducts regular performance reviews aligned with clearly defined expectations. As part of this process, a small percentage of employees may transition from the organisation. We are supporting affected employees with transition support," the company told Mint earlier.
The job cuts have affected employees across different departments and job levels. Meanwhile, the company has been focusing on senior-level hiring, ANI reported.
In December 2025, Flipkart received approval from the National Company Law Tribunal (NCLT) to move its legal domicile from Singapore to India, an important step as the company plans for its planned domestic listing.
Flipkart's financial health
On the financial front, Flipkart India reported a wider consolidated loss of ₹5,189 crore in FY25, compared with ₹4,248.3 crore a year earlier, according to data from business intelligence platform Tofler.
The company, however, reported a 17.3% increase in consolidated revenue from operations at ₹82,787.3 crore in FY25, from ₹70,541.9 crore in the previous financial year.
Total expenses for the fiscal year rose 17.4% to ₹88,121.4 crore, driven primarily by stock-in-trade purchases, which reached ₹87,737.8 crore, compared to ₹74,271.2 crore a year ago.
