India's Flipkart plans to raise $1 billion at a $30 billion valuation before going public

Walmart bought a majority stake in Flipkart in 2018.

Alfred Lee

11 May, 2021

India's Flipkart plans to raise $1 billion at a $30 billion valuation before going public | BEAMSTART News

Flipkart, India's e-commerce giant, is planning to raise a large funding round just before going public.

The company aims to raise at least $1 billion in financing at a valuation of $30 billion, according to sources familiar with the matter.

Key Highlights

  • Flipkart aims to raise $1 billion in a pre-IPO financing round, despite "not requiring additional funds at the moment".
  • Past media reports mentioned that Flipkart aims to go public in 2021.
  • US's Walmart bought a majority stake in the company back in 2018, and remains its largest shareholder to date.
  • Existing investors declined to comment on any funding-related matters in the company.

Why It Matters

  • Many speculate that additional funding will go to further cushion against the country's worsening pandemic, while boosting the company's valuation slightly.
  • Flipkart was valued at $24.9 billion at its last funding round, after raising $1.2 billion from Walmart.
  • Walmart holds a 76.9% stake in Flipkart.
  • The company is competing aggressively with Amazon in India, and recently JioMart.
  • Flipkart has already deployed over $6.5 billion in India to win market share.

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