Flipkart, the Walmart-owned e-commerce giant, has achieved a significant milestone by securing key approvals to relocate its headquarters from Singapore back to India, a strategic move ahead of its much-anticipated Initial Public Offering (IPO).
This development, reported by TechCrunch on September 26, 2025, positions Flipkart as potentially the most valuable startup to reverse its domicile to India, marking a pivotal moment in the company’s 17-year journey.
Why Flipkart’s Return to India Matters
The decision to shift its base to India aligns with the country’s growing economic landscape and regulatory framework, which has become increasingly supportive of domestic listings.
Originally founded in Bengaluru in 2007 by Sachin Bansal and Binny Bansal, Flipkart moved its holding company to Singapore in 2011 to access foreign investment opportunities, a common practice among Indian startups at the time.
A Strategic Move for a Blockbuster IPO
With an expected IPO by late 2025 or early 2026, Flipkart aims for a valuation of up to $70 billion, making it one of the largest public offerings in India’s history.
The relocation is seen as a critical step to align its corporate structure with its primary market, potentially easing compliance and boosting investor confidence in the Indian stock market.
Historical Context of Flipkart’s Journey
Over the years, Flipkart has grown to become a dominant player in India’s e-commerce sector, fiercely competing with Amazon while expanding into diverse areas like fashion, electronics, and digital payments through acquisitions like Myntra and PhonePe.
Walmart’s acquisition of a majority stake in 2018 for $16 billion further solidified its position, providing the financial muscle to scale operations and innovate in a hyper-competitive market.
Impact on India’s Startup Ecosystem
Flipkart’s return signals a broader trend of ‘reverse flipping,’ where Indian startups are moving back to their home country, encouraged by improved IPO markets and government policies aimed at fostering local entrepreneurship.
This move could inspire other unicorns to follow suit, potentially strengthening India’s position as a global hub for tech innovation and investment.
Looking Ahead: Challenges and Opportunities
While the relocation and upcoming IPO present immense opportunities, Flipkart faces challenges such as navigating regulatory scrutiny and maintaining growth amidst fierce competition from Amazon and emerging players like Reliance’s JioMart.
Nevertheless, with its strong market presence and backing from Walmart, Flipkart is poised to redefine the e-commerce landscape in India and set a benchmark for future listings.
Andrew Lee
