Synopsis
Walmart-owned Flipkart has indefinitely paused its IPO plans due to rising market volatility and a crowded pipeline of upcoming public issues. This decision follows similar postponements by other major tech firms, as Flipkart focuses on aggressive investment in its quick commerce arm, Flipkart Minutes, to drive growth amidst stagnating e-commerce expansion.Listen to this article in summarized format
The decision comes two months after fintech major PhonePe, another Walmart-owned Indian company, postponed its $1.3 billion IPO, citing similar market concerns.
Flipkart had been preparing to file its draft papers with India’s market regulator by the end of this year or early 2027, ET had reported earlier. The ecommerce giant had already begun taking steps towards a listing. In December last year, Flipkart received approval from the NCLT (National Company Law Tribunal) to shift its domicile back to India and subsequently initiated its IPO process.
