Flipkart to relocate HQ to India ahead of IPO

Flipkart, The Glory Indian e-commerce starting in the South Asian market close to Amazon is preparing to repay the headquarters from Singapore to India as a company Preparing to file for an IPO In India’s stock exchanges.

On Monday, Flipkart, the action “The action” Hisyond our main operations, he said he received the wide potential of the Indian economy.

The e-commerce giant, which started operating in Bengaluru in 2007, in 2011 to attract foreign investment in Singapore, to take advantage of tax advantages and gain bureaucratic barriers and political problems in India.

“As a company born and raised in India, this transition will increase our attention and agility to our customers, sellers, partners and communities to contribute to the growing digital economy and entrepreneurship,” Flipart Spokesman said.

The relocation is exposed to the necessary approval, the beginning said the beginning without disclosing a certain schedule. However, Flipkart is expected to be issued for an IPO in the country for a while next year.

In 2022, Fripkart was broken down in the late 2022, the broken Walmart-supported telefe, moved the headquarters To India from Singapore. Including several other starting, including Zepto and IncreaseThey also transferred their headquarters to India because they were looking for public lists on Indian exchanges.

However, India’s current public market environment not as to apply as with the end of last yearThe market passes through some adjustments and is affected by macro conditions. Last year, around $ 70 billion in India, around $ 19 billion in the amount of about $ 19 billion, was $ 500 million in price with 11 IPOs report By Goldman Sachs.

Nevertheless, investors are optimistic about the growth potential in the Indian market, because several companies expect several companies to go to the public.

“Many unicorns who think that the supported assessment environment in the United States have supported India, supporting India, said,” he said.

The most recent action by Flipkart is almost a year Increase $ 350 million from Google As part of a financial round of about $ 1 billion, which began in 2023. Initials are estimated at $ 36 billion in final investments.