IPO · Commerce & Consumer Brands

Flipkart defers IPO to 2028 and pauses fundraising

What they do

Flipkart is a major Indian online marketplace for retail goods and digital services

Walmart ordered a pause on fundraising and an IPO until at least 2028 to focus on profitability

The company posted a net loss of ₹1,494 Cr in FY25 while expanding quick commerce operations

Flipkart has deferred its IPO (Initial Public Offering) plans until at least 2028.
Owner Walmart directed the company to pause fundraising activities immediately.
A planned $2-2.5 Bn pre-IPO round has been put on hold indefinitely.
The strategic shift aims to target EBITDA breakeven by fiscal year 2027.
Flipkart executed a reverse flip moving its legal domicile from Singapore to India.
The company conducted a divestment of stakes in Flying Machine and Aditya Birla Lifestyle Brands.
Flipkart shut down its subsidiary ANS Commerce three years after acquiring it.
Approximately 500 employees were laid off as part of operational restructuring.

Walmart owns an 80% stake in Flipkart and controls its strategic direction.
The delay signals a market preference for profitable companies over high-growth unprofitable ones.
Focus on EBITDA breakeven indicates pressure to improve unit economics across verticals.
The reverse flip aligns with regulatory trends favoring domestic incorporation for tech giants.

Flipkart operates as a leading e-commerce marketplace for consumer retail products.
It holds a 50-60% GMV (Gross Merchandise Value) market share in India.
The platform serves 220 Mn monthly active users across various product categories.
It runs Flipkart Minutes, a quick commerce service with 800 dark stores.
Minutes aims to expand to 30 Indian cities this year targeting rapid delivery.
Rivals in quick commerce include Blinkit, Instamart, Amazon Now, and Zepto.
Flipkart launched a standalone food delivery app pilot in Bengaluru in June 2026.
It entered movie ticketing with offerings similar to BookMyShow launching in May.
Logistics arm Ekart generated ₹13,732.9 Cr operating revenue in FY25.
Fashion vertical Myntra reported a net profit of ₹548 Cr in FY25.