Flipkart IPO refers to the proposed initial public offering of Flipkart, one of India’s leading digital commerce companies. Flipkart was established in 2007 and has grown from an online bookstore into a broad digital commerce ecosystem covering e-commerce, fashion, wholesale, travel, healthcare and other consumer services. The Flipkart Group currently includes Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+, Cleartrip and other businesses. The company has more than 500 million registered customers and more than 14 lakh sellers, according to Flipkart’s official corporate website.
Walmart became the largest shareholder of Flipkart in 2018. At the completion of the transaction, Walmart held approximately 77% of Flipkart and committed additional equity funding to support the company’s expansion. Walmart has continued to report Flipkart as part of its international business.
Flipkart has been preparing for a potential public listing in India. In March 2026, Reuters reported that Flipkart had shifted its holding company domicile from Singapore to India as part of preparations for a planned Mumbai listing. However, in May 2026, reports indicated that Flipkart had paused its IPO discussions while focusing on profitability and achieving EBITDA breakeven. As of September 30, 2026, Flipkart has not filed a public DRHP with SEBI, and the final IPO size, price band and dates have not been officially announced.
Table of Contents
Flipkart IPO Details Information
The following Flipkart IPO details are based on currently available company information and reported IPO preparations. Since Flipkart has not yet filed its public DRHP, issue-specific fields remain subject to official disclosure.
| Particulars | Information |
|---|---|
| IPO Name | Flipkart IPO |
| Company Name | Flipkart |
| IPO Type | Yet to be Updated |
| IPO Category | Mainboard IPO |
| Face Value | Yet to be Updated |
| Price Band | Yet to be Updated |
| Issue Size | Yet to be Updated |
| Fresh Issue | Yet to be Updated |
| Offer for Sale | Yet to be Updated |
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| Anchor Investor Bidding | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
| Listing Exchange | Yet to be Updated |
| Lot Size | Yet to be Updated |
| Registrar | Yet to be Updated |
| Book Running Lead Managers | Yet to be Updated |
Flipkart’s IPO size and valuation have not been finalised publicly. A June 2026 market report placed Flipkart in the IPO pipeline with an estimated valuation range of $40 billion to $70 billion, but the report also stated that the company was still in the DRHP-preparation stage. These figures are estimates rather than official IPO terms.
Flipkart IPO Dates
The official Flipkart IPO bidding schedule has not been announced.
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | Yet to be Updated |
| IPO Opening Date | Yet to be Updated |
| IPO Closing Date | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credited to Demat Account | Yet to be Updated |
| Listing Date | Yet to be Updated |
Earlier reports had indicated a possible 2026 or early 2027 listing, but the timeline remains uncertain. In September 2026, Business Standard reported that the listing could be delayed further, with Walmart taking a wait-and-see approach.
Flipkart IPO Reservation
The reservation structure for the Flipkart IPO has not been disclosed because the company has not yet filed its public DRHP.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Yet to be Updated |
| Non-Institutional Investors (NII) | Yet to be Updated |
| Retail Individual Investors (RII) | Yet to be Updated |
| Employee Category | Yet to be Updated |
The final reservation percentages will be disclosed in the DRHP/RHP after Flipkart formally begins the IPO process.
Flipkart IPO Lot Size
The Flipkart IPO lot size and minimum investment amount have not yet been announced.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | Yet to be Updated | Yet to be Updated |
| Retail Maximum | Yet to be Updated | Yet to be Updated |
| S-HNI Minimum | Yet to be Updated | Yet to be Updated |
The final lot size will depend on the face value, price band and minimum bidding quantity specified in the offer documents.
About Flipkart
Flipkart was established in 2007 by Sachin Bansal and Binny Bansal as an online bookstore. The company subsequently expanded into a broad e-commerce marketplace covering electronics, mobiles, appliances, fashion, home products, grocery and other categories. Flipkart’s official website states that its marketplace now has more than 500 million registered customers and over 14 lakh sellers.
The Flipkart Group has expanded beyond its core marketplace through businesses such as Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip. Flipkart also operates Shopsy as part of its digital commerce ecosystem. PhonePe was fully separated from Flipkart in 2022 and now operates as a separate company.
Walmart became Flipkart’s largest shareholder in 2018 after investing approximately $16 billion for an initial stake of about 77%. Walmart subsequently increased its investment in the business and continues to report Flipkart within its international operations.
Business Operations
Flipkart operates a large digital commerce ecosystem serving consumers, sellers and businesses across India.
- E-commerce Marketplace – Flipkart operates an online marketplace connecting customers with sellers across multiple product categories.
- Electronics – The platform offers smartphones, laptops, televisions, accessories and other electronics.
- Fashion – Flipkart and Myntra provide fashion and lifestyle products across multiple consumer segments.
- Home & Appliances – The platform offers furniture, home products, large appliances and consumer appliances.
- Grocery – Flipkart has expanded into grocery and daily-use products.
- Quick Commerce – Flipkart Minutes operates its quick-commerce business, offering faster delivery of selected products.
- Logistics – Ekart provides logistics and supply-chain services supporting the Flipkart ecosystem.
- Wholesale – Flipkart Wholesale operates a digital B2B marketplace serving retailers and small businesses.
- Healthcare – Flipkart Health+ provides healthcare and pharmacy-related services.
- Travel – Cleartrip operates in the online travel segment.
- Shopsy – Shopsy provides a value-focused digital commerce platform with a large seller and product ecosystem.
Flipkart’s official corporate website states that the marketplace offers more than 150 million products across more than 80 categories and has over 14 lakh sellers, including Shopsy sellers.
Industry Overview
India’s e-commerce industry has expanded significantly with rising internet penetration, smartphone usage, digital payments, improved logistics infrastructure and increasing consumer adoption of online shopping. The market includes horizontal marketplaces, specialised platforms, fashion commerce, grocery delivery and quick-commerce businesses.
Competition is also increasing across online retail, with companies investing in faster delivery, pricing, private labels, advertising, technology and supply-chain infrastructure. Quick commerce has become an important part of India’s digital retail market, with major platforms expanding their dark-store and fulfilment networks.
Flipkart operates in several segments of this market and has built a large customer and seller ecosystem. Its scale provides access to a broad consumer base while its logistics infrastructure supports nationwide fulfilment.
Business Strategy
Flipkart’s strategy focuses on expanding digital commerce while improving customer experience, seller participation and fulfilment capabilities. The company has invested in technology, supply-chain infrastructure, advertising, payments and faster delivery to strengthen its marketplace.
The company is also expanding newer businesses such as Flipkart Minutes and developing its wider ecosystem through Myntra, Flipkart Wholesale, Cleartrip and Flipkart Health+. The group is focusing on improving operating efficiency and profitability before proceeding with a public listing. Reports in May 2026 indicated that Walmart had asked Flipkart to focus on reaching EBITDA breakeven before considering an external fundraise.
Flipkart also continues to invest in AI and technology-led commerce. Its large customer and seller network provides a base for advertising, marketplace services, logistics and other digital commerce revenue streams.
Flipkart IPO Financial Information
Flipkart’s overall group financials are not publicly presented in the same manner as a listed Indian company because the group has not yet filed its IPO prospectus. The most widely reported detailed Indian financial information is available for Flipkart Internet Private Limited, the marketplace arm of the group.
Flipkart Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹17,855.1 Crore | ₹20,433.9 Crore | |
| Total Income | ₹18,241.6 Crore | ₹20,807.4 Crore | |
| EBITDA | -₹2,147.1 Crore | -₹1,472.0 Crore | |
| Profit After Tax (PAT) | -₹2,296.2 Crore | -₹1,568.6 Crore | |
| Total Assets | ₹10,638.7 Crore | ₹12,958.0 Crore | |
| Net Worth | -₹447.4 Crore | ₹1,221.2 Crore | |
| Total Borrowings | ₹984.9 Crore | ₹1,604.2 Crore |
Flipkart Internet reported operating revenue of ₹20,493 crore in FY2025, representing a 14% increase from FY2024. Its consolidated net loss narrowed to approximately ₹1,494 crore from ₹2,358.7 crore in FY2024. The reported figures are based on regulatory filings sourced from the Registrar of Companies.
Financial databases using the FY2025 filings report Flipkart Internet’s total revenue at approximately ₹20,746.1 crore, EBITDA at -₹1,472 crore, net profit at -₹1,568.6 crore, net worth at ₹1,221.2 crore and total assets at ₹12,958 crore.
The improvement in profitability reflects higher marketplace and advertising revenue and operating leverage. However, Flipkart Internet continued to report a net loss in FY2025.
Flipkart IPO Key Performance Indicators (KPIs)
The following KPIs are based on the FY2024 and FY2025 financial information available for Flipkart Internet Private Limited.
| KPI | FY2024 | FY2025 |
|---|---|---|
| Return on Equity (ROE) | -128.4% | |
| Return on Capital Employed (ROCE) | -168.4% | |
| PAT Margin | -12.6% | -7.6% |
| EBITDA Margin | -12.0% | -7.2% |
| Debt-to-Equity Ratio | -2.2 | 1.3 |
| Fixed Asset Turnover Ratio | ||
| EPS | ||
| Net Asset Value (NAV) Per Share |
Flipkart Internet’s reported operating margin improved from -12.0% in FY2024 to -7.2% in FY2025, while net margin improved from -12.6% to -7.6%. The company nevertheless remained loss-making in FY2025.
The improvement in operating and net margins coincided with revenue growth and lower losses. Flipkart’s focus on profitability is particularly relevant to its proposed IPO plans, with reports in 2026 indicating that achieving EBITDA breakeven was a key consideration before the listing process proceeds.
Objects of the Flipkart IPO
The final objects of the Flipkart IPO have not yet been disclosed because Flipkart has not filed its public DRHP.
The company may disclose the following categories of utilisation once the IPO structure is finalised:
- Business expansion.
- Technology and platform development.
- Working capital requirements.
- Investments in logistics and supply-chain infrastructure.
- Growth of Flipkart Minutes and other newer businesses.
- General corporate purposes.
- Offer-related expenses.
These are potential categories only and should not be treated as final objects of the issue. The actual objects of the IPO will be available in the official DRHP/RHP.
Flipkart IPO Listing Performance
Flipkart is currently an unlisted company. Therefore, there is no historical IPO listing price or listing gain.
| Particular | Value |
|---|---|
| Listing Exchange | Yet to be Updated |
| Listing Date | Yet to be Updated |
| Issue Price | Yet to be Updated |
| Listing Price | Yet to be Updated |
| Listing Gain | Yet to be Updated |
| Listing Gain (%) | Yet to be Updated |
Flipkart’s planned listing is expected to be in India, but the final exchanges will be confirmed only through the official IPO documents.
Flipkart IPO Subscription Status
The Flipkart IPO is not currently open for subscription.
Flipkart IPO Subscription :
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Yet to be Updated |
| Non-Institutional Investors (NII) | Yet to be Updated |
| Retail Individual Investors (RII) | Yet to be Updated |
| Employee Category | Yet to be Updated |
| Total Subscription | Yet to be Updated |
Subscription data will be updated once the IPO officially opens for public bidding.
Flipkart IPO Review
Flipkart has developed a large digital commerce ecosystem in India, with more than 500 million registered customers and more than 14 lakh sellers. Its operations span e-commerce, fashion, wholesale, healthcare, travel and logistics, giving the group exposure to multiple areas of India’s digital consumer economy.
The marketplace arm, Flipkart Internet, reported FY2025 operating revenue of ₹20,493 crore and narrowed its net loss to approximately ₹1,494 crore. The improvement in losses indicates progress in operating efficiency, although the company remained loss-making.
The proposed IPO timeline remains uncertain. Reuters reported in March 2026 that Flipkart had shifted its holding company from Singapore to India in preparation for a potential Mumbai listing, while later reports in May and September 2026 indicated that the IPO had been delayed or could be delayed further as the company and Walmart focus on profitability.
Flipkart IPO Strengths
- Established in India’s e-commerce market since 2007.
- More than 500 million registered customers.
- More than 14 lakh sellers across the marketplace ecosystem.
- More than 150 million products across 80+ categories.
- Strong brand recognition in Indian online retail.
- Backed by Walmart.
- Presence across e-commerce, fashion, wholesale, healthcare and travel.
- Large logistics and fulfilment ecosystem through Ekart.
- Growing quick-commerce business through Flipkart Minutes.
- Strong technology and digital infrastructure.
- Revenue growth at Flipkart Internet in FY2025.
- Reduction in Flipkart Internet’s net loss in FY2025.
- Large addressable Indian digital-commerce market.
Flipkart IPO Risk Factors
- Flipkart Internet continued to report a net loss in FY2025.
- E-commerce is a highly competitive industry.
- Heavy investment may be required for technology, logistics and customer acquisition.
- Quick-commerce operations require significant fulfilment and infrastructure investments.
- Changes in consumer spending can affect online retail demand.
- Pricing competition can put pressure on margins.
- Regulatory changes affecting e-commerce marketplaces may impact operations.
- Dependence on third-party sellers can create quality and service risks.
- Logistics and fulfilment costs can affect profitability.
- The company has substantial technology and operating expenses.
- The final IPO valuation may differ significantly from earlier market estimates.
- The IPO timeline remains uncertain.
- The company may require additional capital to support expansion before reaching sustainable profitability.
- Competition exists from Amazon, Meesho, Myntra, Reliance-backed businesses and quick-commerce platforms.
Flipkart IPO Promoters
Walmart Inc. is the majority shareholder of Flipkart. When Walmart completed its investment in 2018, it held approximately 77% of Flipkart. Walmart continues to own a majority interest in the Flipkart Group.
Flipkart IPO Promoters Details :
| Promoter / Major Shareholder | Holding |
|---|---|
| Walmart Inc. | Majority Shareholder |
The exact pre-IPO and post-IPO promoter holding will be disclosed in the DRHP and subsequent offer documents.
Flipkart IPO Management Team
Kalyan Krishnamurthy is the Flipkart Group CEO. Walmart’s current India corporate information identifies Kalyan Krishnamurthy as the Flipkart Group CEO.
| Name | Designation |
|---|---|
| Kalyan Krishnamurthy | Group Chief Executive Officer |
| Sakait Chaudhary | SVP & Head of Marketplace |
| Sharon Pais | Head, Myntra |
| Kapil Thirani | Head, Flipkart Fashion |
Flipkart announced in April 2026 that Sharon Pais would lead Myntra and report to Kalyan Krishnamurthy. The company also stated that Kapil Thirani would lead Flipkart Fashion and report to Sakait Chaudhary.
The complete IPO board and key managerial personnel details will be updated after the company files its official IPO documents.
Flipkart IPO Registrar Details
The registrar for the proposed Flipkart IPO has not yet been announced.
| Particular | Details |
|---|---|
| Registrar Name | Yet to be Updated |
| Contact Person | Yet to be Updated |
| Phone | Yet to be Updated |
| Email ID | Yet to be Updated |
| Website | |
| IPO Allotment Status | Yet to be Updated |
The registrar will be appointed and disclosed as part of the formal IPO process.
Flipkart IPO Lead Manager Details
The Book Running Lead Managers for the Flipkart IPO have not yet been officially announced.
| Particular | Details |
|---|---|
| Lead Managers | Yet to be Updated |
The final BRLMs will be disclosed when Flipkart files its IPO documents.
Flipkart Contact Details
| Particular | Details |
|---|---|
| Company Name | Flipkart |
| Corporate Office | Bengaluru, Karnataka, India |
| Website | https://www.flipkart.com |
| CEO | Kalyan Krishnamurthy |
| Email ID | Yet to be Updated |
| Contact Number | Yet to be Updated |
Flipkart’s official corporate information identifies the company as a leading digital commerce business in India and provides information about its group companies and corporate activities.
Prospectus / Documents
The public IPO prospectus documents have not yet been filed because Flipkart has not yet filed its public DRHP with SEBI.
| Document | Status |
|---|---|
| DRHP | Yet to be Filed |
| RHP | Yet to be Updated |
| Prospectus | Yet to be Updated |
| Annual Return | Available |
| Financial Statements | Available |
| Investor Presentation | Yet to be Updated |
Flipkart’s corporate website provides annual returns and other corporate information. The latest listed annual returns include 2025, 2024, 2023, 2022 and 2021.
How to Check Flipkart IPO Allotment Status
Investors will be able to check the Flipkart IPO allotment status after the IPO closes and the basis of allotment is finalised.
Through Registrar
- Visit the official IPO allotment website of the registrar appointed for Flipkart IPO.
- Select Flipkart IPO from the IPO list.
- Select PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Complete the verification process.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Flipkart IPO from the IPO list.
- Enter your PAN Number or Application Number.
- Complete the required verification.
- Click Search to view the allotment status.
The allotment status is currently unavailable because the Flipkart IPO has not opened for subscription.
Flipkart IPO Conclusion
Flipkart is one of India’s largest digital commerce businesses, established in 2007 and backed by Walmart. The group has expanded from its original e-commerce marketplace into multiple businesses including Myntra, Flipkart Wholesale, Flipkart Health+, Cleartrip and other digital-commerce operations. Its platform has more than 500 million registered customers and over 14 lakh sellers.
Flipkart Internet, the marketplace arm, reported FY2025 operating revenue of ₹20,493 crore and a net loss of approximately ₹1,494 crore. The company’s losses narrowed significantly compared with FY2024, although it remained loss-making.
Flipkart’s IPO remains a proposed transaction rather than a currently open public issue. The company moved its holding structure to India in preparation for a potential listing, but reports during 2026 indicated that the IPO timeline had been delayed as Walmart and Flipkart focused on profitability. As of September 30, 2026, the final issue size, price band, lot size, IPO dates, registrar and lead managers have not been officially announced.
Flipkart IPO FAQs
What is Flipkart IPO?
Flipkart IPO refers to the proposed initial public offering of Flipkart, the Walmart-backed Indian digital commerce company.
What is the price band of Flipkart IPO?
The price band of Flipkart IPO has not yet been announced.
What is the issue size of Flipkart IPO?
The final Flipkart IPO issue size has not yet been announced. Market reports have discussed potential valuations, but no final IPO issue size has been officially disclosed.
When will Flipkart IPO open?
The Flipkart IPO opening date has not yet been announced.
When will Flipkart IPO close?
The Flipkart IPO closing date has not yet been announced.
Is Flipkart IPO filed with SEBI?
As of September 30, 2026, Flipkart has not filed a public DRHP with SEBI. The company has been reported to be preparing for a potential IPO, while the timeline has remained uncertain.
Who is the promoter of Flipkart?
Walmart Inc. is the majority shareholder and promoter/controlling shareholder of Flipkart. Walmart acquired approximately 77% of Flipkart when its investment was completed in 2018.
Who is the CEO of Flipkart?
Kalyan Krishnamurthy is the Flipkart Group CEO.
What does Flipkart do?
Flipkart operates a digital commerce ecosystem that includes online retail, fashion, wholesale, healthcare, travel and logistics-related businesses. The Flipkart Group includes Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.
What was Flipkart Internet’s revenue in FY2025?
Flipkart Internet reported operating revenue of approximately ₹20,493 crore in FY2025, up 14% year on year.
What was Flipkart Internet’s loss in FY2025?
Flipkart Internet reported a consolidated net loss of approximately ₹1,494 crore in FY2025, compared with approximately ₹2,359 crore in FY2024.
What is the lot size of Flipkart IPO?
The Flipkart IPO lot size has not yet been announced. It will be disclosed in the official IPO documents along with the price band.
Who is the registrar of Flipkart IPO?
The registrar for the Flipkart IPO has not yet been announced.
On which stock exchanges will Flipkart shares be listed?
The final listing exchanges have not yet been officially announced. The proposed listing is expected to be in India, with the final exchanges to be confirmed through the IPO documents.
