Flipkart, India’s home grown e-commerce giant, which was acquired by Walmart, is planning to come up with an IPO in fourth quarter of this year, according to a Bloomberg report. Flipkart was also exploring listing through a blank check company (SPAC) but it is off the table for the time being.
Flipkart may target a valuation of $35 bn, which will be beneficial for its existing investors as Flipkart unlisted share price may also increase. This will be a first time that a company grown and operating in India will list with such
E Commerce companies’ shares have increased a lot due to the coronavirus crisis as people preferred to order online. Flipkart’s competitor, Amazon share price has also rallied 76% during last one year and is not valued at massive $1.6 trillion.