Flipkart to transfer the headquarters to India before the public subscription

Flipkart, and Wal Mart owned The start of the Indian e -commerce starting to fight Amazon in South Asia Market is preparing to transfer its headquarters to India from Singapore as a company Prepare to raise the public subscription On Indian stock exchanges.

On Monday, Flipkart said this step “represents a natural development, as it corresponds to the structure of the reservation with our basic operations and the tremendous potential of the Indian economy.”

The e -commerce giant, whose operations began in 2007 in Bangaluru, transferred its headquarters to Singapore in 2011 to attract more foreign investments, benefit from tax benefits, and better move in bureaucratic obstacles and political challenges in India.

“As a company that was born in India, this transition will enhance our focus and lightness in the service of our customers, sellers, partners and societies to continue contributing to the growing digital economy and entrepreneurship,” Flipkart spokesman said in a statement.

The startup said that the transport is subject to the required approvals, without revealing a specific timetable. However, Flipkart is expected to offer public subscription in the country at some point next year.

In 2022, Walmart, which was separated from Flipkart in late 2022, did. Headquarters To India from Singapore. Many other startups, including Zipto and HormoneThey also transferred their headquarters to India in the past few months, where they requested general lists of Indian exchanges.

However, the current public market environment in India is It is not attractive as it happened until late last yearSince the market is going through some corrections and is affected by the total conditions. Subscription subscriptions constitute the subscriptions about 19 billion dollars of the size of the stock deal at a value of $ 70 billion in India last year, with 11 subscriptions the subscriptions of more than 500 million dollars, for each a a report Written by Goldman Sachs.

However, investors are optimistic about growth capabilities in the Indian market, where many companies are waiting for this year and after that.

“The supportive evaluation environment has stimulated the source activity. Many of the only people who were considering moving to the United States in the United States have shifted to India because they felt that India had supported a better evaluation.”

Another step by Flipkart also comes about a year later 350 million dollars from Google As part of a $ 1 billion financing round, which started in 2023, the starting start value reached $ 36 billion in the last investment.