Walmart-owned Flipkart is planning to defer its public listing as parent company. Walmart has reportedly instructed the company to focus on achieving breakeven at the EBITDA (earnings before interest, taxes, depreciation, and amortisation) level.
The Bengaluru-based e-commerce company has reportedly been asked to achieve profitability by the end of FY ’27, following which it may consider proceeding with its IPO plans.
The move also indicates that Walmart may not be under immediate pressure to monetise its investment in India. The retailer currently holds around a 70% stake in Flipkart.
Flipkart’s decision to defer its IPO comes a week after Walmart CEO John Furner visited India and addressed a town hall at the e-commerce giant’s Bengaluru office.
Speaking at the India Growth Summit, Furner highlighted India’s growing strategic importance for the US retail giant, particularly in sourcing, digital innovation and entrepreneur-led growth.
He stated that after operating in India for more than three decades, Walmart has cumulatively sourced goods worth more than US $40 billion from India across major categories, reinforcing the country’s position as one of the company’s most significant sourcing markets. The retailer had earlier committed to sourcing goods worth US $10 billion annually from India by 2027.
According to Furner, India’s growing digital infrastructure, entrepreneurial ecosystem and expanding small business sector could shape the future of Walmart’s global operations.
Flipkart had earlier been preparing to file its draft IPO papers with India’s market regulator by the end of 2026 or early 2027. The company has already taken several steps towards a potential public listing.
In December last year, Flipkart received approval from the National Company Law Tribunal (NCLT) to shift its domicile back to India and subsequently began preparations for its IPO process.
Flipkart’s IPO timeline has also reportedly been pushed back due to increased market volatility arising from the ongoing West Asia conflict, along with a crowded pipeline of large public issues expected this year, including those of Reliance Jio, Zepto and the National Stock Exchange.
