Flipkart prepares for $10bn IPO

Online retail giant Flipkart is making preparations for an initial public offer — after some years of swarming speculation on its on-again, off-again fund-raising plans through this route.

Media reports said the Walmart-owned company is reportedly eyeing a $10 billion IPO and has hired Goldman Sachs for the exercise.

A statement from Flipkart said while an initial public offering has always been part of its long-term strategy, the focus at present is on growth and democratising commerce in India through technology, while continuing to unlock customer value.