IPO · Commerce & Consumer Brands

Flipkart plans IPO and new verticals after reverse flip

By Startup Enthusiast · 7 April 2026

What they do

Flipkart is an Indian online marketplace selling electronics, fashion, and groceries

The company raised $2-2.5 billion pre-IPO and completed a reverse flip to India for listing

It launched quick commerce sub-brands and plans food delivery and ticketing services in 2026

Flipkart completed a reverse flip (moving domicile from Singapore to India) to prepare for an IPO (public stock listing).
The company raised $2B-$2.5B in a pre-IPO fundraise (selling shares before public listing) from domestic and global investors.
CEO Kalyan Krishnamurthy met with bankers like Goldman Sachs and JPMorgan Chase to discuss the listing timeline.
The IPO is expected on domestic bourses within the next 12-18 months following the fundraise completion.
Flipkart plans to launch a separate vertical for live events ticketing by May 2026 to compete with BookMyShow.
A food delivery pilot is scheduled for Bengaluru in May-June 2026 via a standalone app or ONDC platform.
CFO Sriram Venkaraman stepped down after a 15-year stint as the company prepares for its public debut.
Delhi High Court dismissed Flipkart's appeal in a MarQ trademark dispute, upholding an injunction against Marc Enterprises.

The reverse flip signals strong confidence in India's capital markets for a major tech asset.
The massive pre-IPO raise provides liquidity for early investors while funding expansion plans.
Diversifying into food and ticketing reduces reliance on traditional e-commerce margins.

Flipkart operates a vast marketplace covering mobiles, electronics, furniture, grocery, and fashion categories.
It runs quick commerce sub-brands including Minutes Grocery Store and Minutes Pharmacy Store.
The company aims to expand its network of dark stores (warehouses for fast delivery) to over 1,500 by end 2026.
Current dark store count stands at 750-850, with plans to add approximately 100 per month.
Flipkart targets presence in ~250 cities by mid-2026, focusing on tier-II and tier-III locations.
Specific expansion cities include Rohtak, Muzaffarpur, Hajipur, Arrah, Chhapra, Zirakpur, Mohali, and Sonipat.
FY25 operating revenue for the marketplace arm reached ₹20,493 Cr, showing 14% year-on-year growth.
Net loss for the marketplace arm narrowed to ₹1,494 Cr in FY25, down 37% from the previous year.
The platform sells diverse items ranging from toys and baby products to home appliances and beauty goods.

Launch live events ticketing vertical in May 2026.
Pilot food delivery service in Bengaluru starting May 2026.
Spin out Flipkart Minutes standalone app targeting Big Billion Days sale later in 2026.
Execute public listing on domestic stock exchanges within 12-18 months.