Flipkart Plans IPO Next Year

Targets valuation of up to $70 billion

- PEERZADA ABRAR

Flipkart, the Walmart-backed e-commerce giant, is aiming to go public in India as early as next year, with an initial public offering (IPO) valuation target of $60 billion to $70 billion, according to people familiar with the matter. If realised, the offering would rank as the largest consumer-tech IPO in India's history.

The company, based and operating in India, has initiated steps to relocate its holding company from Singapore to India, a move intended to smooth the path for a domestic listing.

Flipkart's board has approved the redomiciling process, which is expected to be completed ahead of its IPO within the next 12 to 15 months, according to the sources.