The Flipkart IPO, which is likely early next year in the US, may get delayed If the SoftBank capital comes in as part of a larger $2 billion funding round.
Synopsis
If even one of Nykaa, Zomato, Delhivery or Policybazaar has a successful IPO, the Indian startup ecosystem could see a massive inflow of foreign capital, A91’s Abhay Pandey and Zerodha’s Nithin Kamath say on ETtech’s Clubhouse chat.
ETtech
Mumbai: The inflection point for the Indian startup story is expected to come in 2021, as at least half a dozen tech startups are lining up to go public this year. According to industry insiders, if even one of the companies
Nykaa, Zomato,
Delhivery or
Policybazaar has a successful IPO, the Indian startup ecosystem could see a massive inflow of foreign capital.
A traditional Flipkart IPO is much more likely, even as a growing number of Indian tech startups are considering the SPAC route to public markets because it involves less scrutiny.
By Baiju Kalesh and Anto Antony
Walmart Inc.’s Flipkart is exploring going public in the U.S. through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.
The Bengaluru-based online retailer has been weighing a U.S. initial public offering and it’s now also looking at other options, the people said. Flipkart’s advisers have approached several SPACs, said one of the people, who asked not to be identified as the information is not public. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the people said.