Flipkart releases IPO valuation target for 2023

Thursday 7 April 2022 14:55 CET | News

Walmart’s India-based ecommerce company Flipkart has internally raised its IPO target to USD 60-70 million and plans a US listing in 2023.

Flipkart, which competes with in India’s ecommerce space, had earlier set an IPO valuation goal of $50 billion, Reuters has reported.

The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations further by focussing on two of its relatively new businesses, online healthcare services and travel bookings. It is also said that the ongoing global market turmoil sparked by the Russia-Ukraine crisis also forced the Indian company to reconsider its timeline.

Flipkart acquired Indian travel booking website Cleartrip in 2021, and launched a ‘Health+’ app to offer medicines as well as other healthcare products and services. The company thinks there is an even bigger upside of valuation than originally envisaged. The travel business has started showing increased opportunities for them, according to the press release.

The IPO planning comes amid growing protests from Indian brick-and-mortar retailers that Flipkart and Amazon bypass federal regulations and favour select sellers, allegations the companies deny. India is also working on a slew of ecommerce sector regulations that could spook foreign giants.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ecommerce, Flipkart, Walmart, IPO, retail
Categories: Fraud & Financial Crime
Companies: Flipkart, Walmart
Countries: India, United States
This article is part of category

Fraud & Financial Crime




Discover all the Company news on Flipkart and other articles related to Flipkart in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events