To strengthen corporate governance in preparation for the IPO, Flipkart has appointed Lydia Jett, a former managing partner at SoftBank, to its team.

Flipkart, the Walmart-owned e-commerce giant, is relocating its holding company from Singapore to India, a strategic move ahead of a potential initial public offering (IPO).

The company, currently valued at approximately $36 billion, has received internal approvals for this domicile change to facilitate its listing on Indian stock exchanges.

This relocation aims to better align with local regulations and provide access to public markets, which are perceived as more favorable than those in the U.S.

Other notable Indian startups, including Razorpay and Zepto, are also moving operations back to India, indicating a strengthening of local capital markets.

The platform boasts over 100 million registered users and handles over 10 million page visits and 8 million shipments monthly, highlighting its significant market presence.

This move reflects a broader trend among companies to establish operational bases in their primary markets, showcasing the maturation of the digital economy.

Flipkart's relocation follows a significant $350 million investment from Google in 2024, part of a larger funding round that valued the company at $36 billion.

The transition is subject to regulatory approvals, with the IPO expected to be filed in 2026.

Despite current market corrections impacting IPO attractiveness, there remains strong investor optimism regarding India's economic growth.

In 2024, IPOs accounted for about $19 billion of the $70 billion equity deal volume in India, reflecting a robust market despite challenges.

Ultimately, Flipkart's relocation is viewed as a strategic step towards a potential public listing in India, aligning with the growing interest in domestic tech companies.