Flipkart moves headquarters back to India ahead of potential IPO

Flipkart has officially completed its redomiciliation—the process of moving a company’s legal home—back to India from Singapore. The corporate relocation comes as the company prepares for a potential initial public offering (IPO). According to people familiar with the company, Flipkart is targeting a stock market debut in India in the financial year ending March 2027. The transition was finalized after receiving approval from the Government of India for an internal restructuring. Under this new structure, Flipkart Internet Private Limited serves as the holding entity of the Flipkart group. A company spokesperson stated that the approval “completes the redomiciliation of the Flipkart group to India, a significant milestone that reflects our deep and long-term commitment to India.” This final step follows an in-principle approval from a Singapore court in September and hearings held before India’s National Company Law Appellate Tribunal.

The relocation mirrors a broader trend of Indian startups, such as Zepto and Groww, moving their holding structures back home. These companies are seeking greater regulatory clarity and simpler tax structures ahead of public listings. For example, Groww previously relocated its structure, while Zepto filed confidentially for an IPO in December.

The scale of Flipkart’s domestic operations remains significant. According to sources, the company’s gross merchandise value reached about $30 billion in 2025, up from roughly $23 billion in 2021. The platform currently serves 500 million customers and works with 1.6 million sellers. Its logistics arm, Ekart, delivers to more than 22,000 PIN codes—the Postal Index Number codes used in India—nationwide.

The return to India marks a shift from the company’s origins in 2007, when it initially set up overseas structures to attract foreign investment. In 2018, Walmart acquired a majority stake in Flipkart for $16 billion. Flipkart initially announced its plans to move its headquarters back to India in April 2025, setting off the multi-step regulatory process that has now concluded.

Why it matters

Flipkart’s return to India signals a maturing domestic tech ecosystem where startups are prioritizing local regulatory clarity and tax structures over the historical preference for overseas holding entities ahead of public listings.