Flipkart may fast-track IPO plan to 2021

Bengaluru: Flipkart, India’s most valuable consumer internet startup, may go for a public listing as early as next year, on the back of rapid digital transformation in the country, that has been further accelerated by the covid-19 pandemic, said a person familiar with the development.

Flipkart would look at an overseas listing, either in US, where Walmart is headquartered or another country, and could be valued at $40-45 billion.

In 2018, Walmart Inc. had acquired a majority stake in Flipkart for $16 billion, valuing Flipkart at $21 billion. Doug McMillion, president and CEO, Walmart had said that it may take Flipkart public in as early as four years after the acquisition was closed.