In 2011, Flipkart relocated its headquarters from Bengaluru to Singapore to take advantage of enhanced foreign investment opportunities.
Walmart-backed Flipkart is relocating its headquarters from Singapore back to India as it prepares to file for an initial public offering (IPO).
A Flipkart spokesperson commented, “This move underscores our strong commitment to India and its impressive growth. We are motivated by the Government of India’s clear vision and proactive policies that have created a thriving business environment and made doing business easier, significantly influencing our journey.”
“This move marks a natural progression, aligning our holding structure with our core operations, the immense potential of the Indian economy, and our technology-driven capabilities to drive digital transformation in India,” the spokesperson added.
The relocation, pending regulatory approvals, comes as Flipkart is reportedly preparing to file for an IPO in India next year.
In 2011, Flipkart moved its headquarters from Bengaluru to Singapore to capitalize on greater foreign investment opportunities and tax efficiencies and to navigate India’s bureaucratic and regulatory challenges.
According to a TechCrunch report, Flipkart stated that the relocation reflects the company’s Indian roots and will help it better serve customers, sellers, partners, and communities, while supporting India’s growing digital economy and startup ecosystem.
Founded in 2007 by Sachin and Binny Bansal, Flipkart has attracted investments from global players like Tencent, Tiger Global, and Microsoft. In May 2018, Walmart Inc., the world’s largest retailer, made headlines by acquiring a 77% stake in Flipkart for $16 billion—the largest deal in global e-commerce history. By December 2023, Walmart increased its stake to 81% and is preparing to take Flipkart public.
Flipkart has grown significantly over the years, expanding its portfolio to include fashion platform Myntra, B2B marketplace Flipkart Wholesale, logistics arm Ekart, value-driven platform Shopsy, fintech services like SuperMoney, and Flipkart Health+, a digital healthcare initiative launched after acquiring SastaSundar.com in 2022. In August 2024, it ventured into quick commerce with Flipkart Minutes and owns Cleartrip, the travel and leisure platform it acquired in 2021. Additionally, Flipkart operates Flipkart Ventures, a $100 million fund that supports startups within the ecosystem.
The company’s seller base now exceeds 1.4 million, predominantly small businesses. Walmart has consistently supported Flipkart, leading a $3.6 billion funding round in 2021 that valued the company at $37.6 billion. In 2023, Walmart invested nearly $3.5 billion to acquire stakes from early investors, including Binny Bansal, Tiger Global, and Accel. The latest development follows a $1 billion multi-tranche funding round in 2023, which included a $350 million investment from Alphabet, with Flipkart valued at $36 billion.
Flipkart’s decision to relocate its headquarters from Singapore to India is part of a broader trend among Indian startups repositioning themselves for local initial public offerings (IPOs). Companies like PhonePe, Zepto, and Groww have also recently moved their bases to India, aligning with their plans to go public.
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