FLIPKART said on Tuesday it will shift its holding company from Singapore to India. The move aligns with the company's operations and comes as it considers a possible public listing in the country.
The Walmart-owned e-commerce company is currently domiciled in Singapore.
“Flipkart, India’s homegrown e-commerce platform, proudly based and operating in India, has shared its intention to relocate its holding company from Singapore to India,” the company said in a statement.
“This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” the statement said.
Flipkart has been exploring a public listing in India.
“As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation's growing digital economy and entrepreneurship,” the company added.
(With inputs from agencies)
FILE PHOTO: Apple iPhones are seen inside India's first Apple retail store in Mumbai, India, April 17, 2023. REUTERS/Francis MascarenhasREUTERS
The delegation at trade showAMG
Warm welcome at GatwickAMG