With eyes on IPO, Flipkart plans to move domicile from Singapore to India
By MYBRANDBOOK
Walmart-owned Flipkart is reportedly planning to move its domicile back from Singapore to India. The company, valued at $33 billion, may provide a significant tax gain for the Indian government. Moving domicile to India is linked to eventual IPO plans, as the ecommerce firm is considering listing in India and other geographies, including the US. It postponed an IPO plan in 2022-23 due to financial considerations and global macroeconomic uncertainty.
Flipkart Pvt Ltd is a holding company based in Singapore. The firm, currently valued at $33 billion, is intensifying its efforts to achieve profitability as it eyes a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned for 2025-2026 instead of this year.
The company counts Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market.
Flipkart may join an increasing number of startups planning to move their domiciles to the country. Many Indian startups domiciled abroad are considering reverse-flipping to India. These include companies engaged in areas such as fintech, e-commerce, stock broking, health care, and edtech.
Fintech startup Groww has formally moved its domicile back to India from the US through a reverse flip by its parent firm, chief executive officer Lalit Keshre said. Likewise, Walmart-backed PhonePe, another major fintech startup, moved its domicile from Singapore to India in October 2022.
BREAKING NEWS
TECHNO TRENDS
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Committed to follow future roadmap with 'Make-in-India' 2.0 Vi
As technology advances, AI is used in increasingly disparate ways to help a
Autodesk investing in emerging Design & Make technologies to d
Autodesk partners with leading companies in a variety of industries, includ
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
AMARA RAJA POWER SYSTEMS LTD.
QUICK HEAL TECHNOLOGIES PVT. Ltd.
RELIANCE JIO INFOCOMM LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Ashish Kumar Chauhan
Ashish works as the CEO of the National Stock Exchange (NSE). He is al...
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
PARTNER SPEAKERS
PSU
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
VIDEOS
Top 25 Brands
Value-Added Distribution
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
