Moneycontrol reported last week that Flipkart was in preliminary discussions with investment banks about the listing
With this, Flipkart Internet Pvt Ltd has become the group’s holding company after government approval for internal restructuring, clearing a key step toward the e-commerce major's upcoming domestic listing.
US retail giant Walmart , which became the first traditional retailer to hit a $1 trillion market valuation in early February, holds a substantial majority stake in Flipkart and the firm’s cap table also includes marquee names like Softbank, Google and Canadian Pension Plan Investment Board ( CPPIB)
The appointment follows a series of senior hires across finance, governance, technology and category leadership at Flipkart, and comes weeks after the company received regulatory approval to shift its domicile back to India ahead of a potential public listing.
The recent investment in Flipkart is a crafty move in a game of stealth and consolidation. Long live e-commerce!