Flipkart IPO

Founded in 2007, Flipkart is a major Indian e-commerce platform engaging in the supply of a wide range of consumer products across multiple categories like consumer electronics, fashion, lifestyle and home. Being a marketplace-led business model, the company derives its revenue by charging commissions on the sales of the goods on its platform. Besides this, Flipkart also utilises ad services such as sponsored product listings, banner ads and social media promotions to generate revenue through its large seller base.

Backed by Walmart since 2018, the company operates a diversified digital commerce ecosystem that includes the core marketplace (Flipkart Internet), fashion platform Myntra, value-commerce arm Shopsy, logistics network Ekart and travel platform. Flipkart’s registered customer base has crossed 500 million, and its platform now offers more than 150 million products across 80+ categories.

In FY25, Flipkart India experienced a healthy 17.3% year-on-year growth in its consolidated revenue from operations, which amounted to ₹82,787 crore on the back of the expansion in the marketplace and advertising services. On the other hand, net losses widened to ₹5,189 crore from ₹4,248 crore in FY24, which was mainly due to higher operating expenses and increased losses from associate companies. At the marketplace level, Flipkart Internet narrowed its net loss by 37% to ₹1,494 crore in FY25, and registered revenue growth of 14% to ₹20,493 crore.

Flipkart is likely to launch one of India’s largest-ever new-age IPOs, potentially in early FY26, after completing its strategic domicile shift from Singapore to India. As per market speculations, the IPO could raise $8 billion to $10 billion, leading to a valuation of $60 billion to $70 billion, through a combination of a fresh issue and an offer for sale by existing shareholders. It is anticipated that the company will use the funds to strengthen supply chain infrastructure, enhance grocery and quick commerce features, and deepen investment in the core marketplace and technology.