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Flipkart eyes profitability ahead of IPO
January 15, 2024
|Business Standard
Looks to go public in 1-2 years after achieving valuation of $60 bn
FIlipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India.
The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023. However, it had to postpone the plan due to financial considerations and macroeconomic uncertainty. "For its IPO, the company is fast-tracking its efforts to ensure that it becomes profitable and it is inching towards that," said a person familiar with Flipkart's IPO strategy. "The firm has significantly improved its Ebitda (earnings before interest, taxes, depreciation, and amortisation)."
هذه القصة من طبعة January 15, 2024 من Business Standard.
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