Walmart Flipkart India Unit Reportedly Progresses Toward IPO
Flipkart, Walmart s Indian e-commerce titan, is reportedly making progress toward an IPO as soon as the fourth quarter.
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Flipkart, Walmart s (
WMT) - Get Report Indian e-commerce titan, is reportedly making progress toward an initial public offering as soon as the fourth quarter of this year.
Walmart has set up an internal IPO team for the Bengaluru, India, online retailer and is leaning toward a traditional debut in the U.S., Bloomberg said, citing people familiar with the situation.
The startup’s valuation could top $35 billion as it goes public.
Saroj Panigrahi, a former JPMorgan Chase attorney Flipkart hired in December, is driving the IPO process. JPMorgan and Goldman Sachs are in discussions with the company about advising on the deal and are frontrunners to be formally selected.
Flipkart is said to aim for IPO in fourth quarter of 2021
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Walmart s Flipkart is said to aim for IPO in fourth quarter
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