Flipkart Internet, the marketplace arm of Walmart-owned Flipkart, has secured a fresh capital infusion of Rs 2,225 crore (approximately $262 million) from its Singapore-based parent company, Flipkart Marketplace. This latest round of funding comes just two months after the previous Rs 3,200 crore infusion, underlining Walmart's continued confidence in Flipkart's long-term growth strategy and IPO readiness.
Share Allotment to Singapore Entity Confirmed
As per filings with the Registrar of Companies (RoC), Flipkart Internet’s board has approved the allotment of new equity shares to its Singapore-registered parent. The move is seen as a strategic effort to strengthen Flipkart's financial position as it accelerates preparations for its much-anticipated initial public offering.
IPO Plans and Legal Domicile Shift
Flipkart is planning to shift its legal domicile from Singapore to India, a key step toward its public market debut. The IPO, likely to take place in 2025, is expected to value the Indian e-commerce giant between $60 billion and $70 billion. The legal restructuring will not only align the company with Indian regulatory frameworks but also appeal to domestic investors.
Strong Business Momentum and AI Investment Surge
Currently valued at around $36 billion, Flipkart has seen a significant surge in business activity. Flipkart Group CEO Kalyan Krishnamurthy recently revealed that customer orders have grown 20–25% and are expected to hit 30% by June. He also mentioned a sixfold increase in artificial intelligence investments as part of Flipkart's push toward future-ready technologies.
Quick Commerce and International Expansion Initiatives
Flipkart is expanding its quick commerce vertical through Flipkart Minutes. The company has set an ambitious target of establishing 800 dark stores across India by the end of 2025. Meanwhile, Myntra, Flipkart’s fashion subsidiary, has launched a direct-to-consumer (D2C) model in Singapore, aimed at the Indian diaspora. Myntra India recently received $125 million in fresh funding from its Singapore-based parent company, FK Myntra Holdings.
Walmart's Majority Ownership and Key Investors
Walmart currently holds an 85% stake in Flipkart Internet, which includes key business units such as PhonePe and Myntra. PhonePe, the digital payments arm, has also initiated its IPO process. Other prominent investors in Flipkart include Tencent, CPP Investments, GIC, SoftBank, and Microsoft, indicating robust global institutional support.
FY 2023–24 Financial Performance
In the financial year 2023–24, Flipkart posted a 20% year-on-year increase in operating revenue to Rs 17,907 crore. The company also managed to reduce its net losses by over 41%, bringing it down to Rs 2,359 crore. This financial performance showcases Flipkart's growing operational efficiency and business scalability.
About Flipkart Group
The Flipkart Group stands as one of India’s leading digital commerce conglomerates. It includes Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and fintech arm super.money. Founded in 2007, Flipkart has empowered millions of sellers and small businesses to participate in the country’s digital retail boom.
With a registered user base of more than 500 million, Flipkart offers over 150 million products across 80+ categories. It has onboarded over 1.4 million sellers, including merchants on its social commerce platform Shopsy. The company has also pioneered industry-first innovations such as Cash on Delivery, No Cost EMI, Easy Returns, and UPI payment integration.
Flipkart continues to focus on making e-commerce more accessible and affordable for Indian consumers, while creating jobs, supporting MSMEs, and promoting digital inclusion across the country.