Flipkart IPO may reportedly happen overseas in November 2022

• Flipkart wants to do the IPO before March 2023, CEO Kalyan Krishnamurthy reportedly said.
• Scaling the grocery business would be a critical part of the journey towards Flipkart’s public listing.
• The company is also looking to raise the pre-IPO round in the January-March quarter next year.

Walmart-owned ecommerce giant Flipkart will go for an initial public offering (IPO) in November or December 2022, the company’s group chief executive (CEO) Kalyan Krishnamurthy has reportedly said.

There is also a chance that the Flipkart IPO may be pushed to March 2023 due to external factors like inappropriate market conditions, Krishnamurthy reportedly told a select group of executives earlier this week in an offsite meeting. The development was $4by The Economic Times (ET).

He reportedly added that scaling the grocery business would be a critical part of the journey towards the public listing. This may be a reason why Flipkart increased its shareholdings in $4earlier this week.

As per the report, Flipkart is looking at a possible overseas listing. The company is also reportedly looking to raise a pre-IPO round in the January-March quarter next year in order to benchmark its valuation before it hits the public market.

Business Insider has reached out to Flipkart seeking confirmation on the same.

The Bengaluru-based company had raised $4, at a valuation of $37.6 billion. The round was led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart. Tiger Global and Qatar Investment Authority, among other marquee investors also participated in the round.

Walmart had acquired 77% shares in Flipkart in 2018, giving exits to founders Binny and Sachin Bansal, subsequently. The US-based retail giant currently holds 75% shareholding in Flipkart.

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