It seems that finally the e-commerce giant Flipkart¡¯s much anticipated IPO can be expected to come out next year.? This is as per Walmart-owned Flipkart¡¯s group CEO Kalyan Krishnamurthy in an offsite meeting reportedly with a select group of executives earlier this week.?Flipkart is said to be aiming for the IPO roll out in November-December 2022.?
As per the CEO, scaling up the grocery business would be critical in that journey.?This might be a reason why Flipkart recently increased its shareholdings in?fresh produce supply chain company NinjaCart?earlier this week.
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All this comes just a few days after Walmart CFO and Executive VP Brett Biggs¡¯ statement that Flipkart is on its path to profitability and an IPO is very much on the cards. But he had not specified any timeline.
As per sources, while the IPO blueprint is being finalized, a US listing for Flipkart may get stretched to March 2023, depending on external factors like market conditions. This comes even as the Walmart-owned firm Flipkart is considering raising a pre-IPO round in the next quarter or so, to benchmark its valuation before the IPO.
A person aware of the matter said that the intent is to get there (IPO) by around the final quarter of next year and the process is in motion. There has been a formal discussion on the path to IPO by the CEO, who said it would potentially happen in the next 12 months ideally unless things change dramatically triggered by external events. As per the person, Flipkart is looking to do the IPO before the end of the Financial Year 2023.
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