Flipkart eyes overseas listing as early as 2021: Report

NEW DELHI/BENGALURU : Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company’s plans told Reuters.

Bengaluru-based Flipkart, which vies with players such as Amazon.com’s local unit in India and India’s Reliance Industries, will be aiming for a valuation in the $45-$50 billion range, according to one source with knowledge of the matter.

If achieved, that would mean Walmart would have more than doubled its investment.

Flipkart is likely to choose between Singapore, or the United States for the initial public offering (IPO), said two other sources, who asked not to be named as discussions are private.