- | 5:30 pm
Flipkart to relocate headquarters to India from Singapore
The company confirmed the move in a statement, saying that the decision is in line with its operational presence and India’s regulatory environment
Walmart-owned e-commerce Flipkart has said it will relocate its holding company from Singapore to India. The move comes as the company prepares for a public listing on the stock exchanges.
The company confirmed the move in a statement, saying that the decision is in line with its operational presence and India’s regulatory environment.
“This transition reflects our deep and unwavering commitment to India,” Flipkart said, citing the country’s policy framework, economic growth, and investor-friendly digital infrastructure as motivating factors.
Flipkart was founded in Bengaluru in 2007, and shifted its base to Singapore in 2011 to access foreign capital, benefit from tax structures, and work around regulatory challenges.
The decision is in line with a trend among Indian startups that are moving their bases back to India from overseas.
Companies such as Zepto, Groww, and PhonePe—previously part of Flipkart—have also moved their headquarters back to India in recent years to utilize local market valuations and prepare for IPOs.
Walmart, which holds an 85% stake in Flipkart following a $3.5 billion investment this year, leads the company’s ownership.
The remaining 15% is split among international investors including Tiger Global, Google, DST Global, GIC, and the Qatar Investment Authority.
In 2023, Google invested $350 million as part of a broader $1 billion funding round that valued Flipkart at $36 billion.
The headquarters shift is pending regulatory approvals.
More Top Stories:
