Flipkart IPO may reportedly happen overseas in November 2022
Flipkartwants 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.
There is also a chance that the
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 fresh produce supply chain company NinjaCart earlier this week.
AdvertisementAs 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 $3.6 billion in July this year, 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 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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