Walmart's Flipkart Plans Overseas IPO

By Sheridan Fifer

Indian e-commerce company Flipkart is planning an initial public offering, which could occur as early as the year 2021. The IPO could take place in Singapore, where Flipkart is incorporated, or in the U.S., where Walmart has its headquarters. The latter option would likely give the e-commerce company access to more funds. While the process has been largely kept under wraps until now, sources familiar with the matter say that Flipkart will soon seek guidance from advisors outside the company.

Flipkart is reportedly aiming for a valuation of between $45 and $50 billion. A valuation that big would indicate that Walmart had doubled its original investment. 

The discussions come as India drafts new regulations that could pave the way for domestic companies to directly list overseas.

Read the full story at Reuters.