Flipkart to shift base back to India from Singapore

Flipkart will shift its holding company from Singapore to India, the e-commerce company said on April 22, as its parent Walmart aims to take the 17-year-old company public.

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BENGALURU -

Many Indian start-ups that once chose to be based abroad for better access to capital and smaller tax bills are now queueing to return home from financial hubs such as Singapore and the US due to better initial public offering prospects in a country that does not allow dual listings.

"This move represents a natural evolution, aligning our holding structure with our core operations," Flipkart said.