Rumors are circulating that Walmart's Flipkart is planning an initial public offering in the United States as early as the fourth quarter of this year. People familiar with the matter say that Walmart has assembled an internal IPO team for Flipkart; however, future proceedings are far from set in stone, and one source said that the IPO may ultimately take place outside the U.S.
When Walmart acquired Flipkart in 2018, analysts and investors were skeptical. Shares tumbled amid questions of whether Walmart, who had struggled to gain much traction in its own e-commerce business, was overpaying for the company and overextending itself. The situation looks different now, to say the least.
A successful stock market debut for Flipkart could put an end to any nagging concerns.