Flipkart is one of India's leading e-commerce companies, offering a wide range of products across categories such as electronics, fashion, home appliances, groceries and lifestyle. Founded in 2007 by Sachin Bansal and Binny Bansal, the company started as an online bookstore and gradually expanded into a major digital marketplace. Walmart acquired a majority stake in Flipkart in 2018 and remains its parent company.
Flipkart is preparing for a potential IPO in the Indian stock market. The company has completed the process of shifting its holding company's domicile from Singapore to India as part of its listing preparations. However, as of November 2026, Flipkart has not filed its DRHP with SEBI, and the IPO date, price band and issue size are yet to be announced. Its listing timeline remains uncertain as the company focuses on improving profitability before going public.
About Flipkart
Flipkart is one of India's leading e-commerce companies, founded in October 2007 by Sachin Bansal and Binny Bansal. The company started as an online bookstore with the aim of making shopping easier and more accessible for Indian consumers. Over the years, Flipkart expanded its business into multiple categories, including smartphones, electronics, fashion, home appliances, furniture, groceries and lifestyle products.
Headquartered in Bengaluru, Karnataka, Flipkart has played an important role in the growth of India's online shopping industry. It introduced customer-focused services such as Cash on Delivery, No Cost EMI and easy returns, helping more people become comfortable with online shopping.
In August 2018, US-based retail giant Walmart acquired a majority stake in Flipkart through an investment of approximately $16 billion. This investment supported Flipkart's expansion and strengthened its position in India's competitive e-commerce market.
Today, Flipkart operates as part of the Walmart-owned Flipkart Group, with businesses and platforms such as Myntra, Ekart and Cleartrip. The company is also preparing for a potential stock market listing in India. Its move to shift its holding structure from Singapore to India is an important step towards its future IPO plans.
History and Growth of Flipkart
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal in Bengaluru, India. The company started as an online bookstore with the aim of making book shopping easier and more convenient for Indian customers. Initially, it operated with a small team and limited resources, but its customer-focused approach helped it gain popularity.
Over the years, Flipkart expanded its product range beyond books to include electronics, fashion, home appliances, furniture, groceries and other everyday products. The introduction of services such as Cash on Delivery, easy returns and faster delivery helped build customer trust and encouraged more people to shop online.
Flipkart also expanded through acquisitions and strategic investments, including the acquisition of Myntra in 2014, strengthening its position in India's online fashion market. A major milestone came in 2018, when Walmart acquired a 77% stake in Flipkart for approximately $16 billion, becoming its largest shareholder. This investment provided Flipkart with additional financial strength and retail expertise to support its expansion.
In April 2025, Flipkart announced plans to shift its holding company from Singapore to India, a move linked to its long-term business strategy and potential IPO plans.
Today, Flipkart has grown from a small online bookstore into one of India's major e-commerce platforms, connecting customers with sellers and businesses across multiple product categories. Its growth reflects the increasing popularity of online shopping in India and its focus on technology, logistics and customer experience.
Key Milestones in Flipkart's Growth
- 2007: Founded by Sachin Bansal and Binny Bansal as an online bookstore.
- 2010: Introduced Cash on Delivery and launched its logistics arm, eKart.
- 2014: Acquired Myntra to strengthen its fashion business.
- 2018: Walmart became Flipkart's largest shareholder.
- 2025: Announced plans to shift its holding company from Singapore to India.
Flipkart IPO Important Details
The Flipkart IPO is an upcoming public offering of Flipkart, one of India's leading e-commerce companies, which is majority-owned by US-based retail giant Walmart. The company has been preparing for a potential listing on the Indian stock market, but its IPO timeline remains uncertain.
Flipkart has completed the process of shifting its holding company's domicile from Singapore to India, an important step towards a domestic stock market listing. However, as of November 2026, the company has not filed its Draft Red Herring Prospectus (DRHP) with SEBI. The IPO date, issue size, price band and lot size have also not been officially announced.
Here are the important details available about the proposed Flipkart IPO:
Important Update: In May 2026, reports indicated that Flipkart had paused its IPO plans amid market uncertainty and a stronger focus on achieving profitability. In September 2026, further reports suggested that the listing could be delayed by another one to two years. The company has indicated internally that an IPO remains part of its long-term strategic roadmap, but the final timeline will depend on business performance and market conditions.
Flipkart IPO Date and Expected Timeline
Flipkart has not officially announced the exact date of its Initial Public Offering (IPO). The company is preparing for a potential stock market listing as part of its long-term growth strategy. However, investors should wait for an official announcement regarding the IPO opening date, price band and issue details.
The IPO timeline will become clearer once Flipkart files its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
Flipkart IPO Expected Timeline
Earlier reports indicated that Flipkart was targeting a listing by March 2027. However, in May 2026, reports stated that the company had paused its IPO plans to prioritise profitability amid market volatility. Therefore, March 2027 should not be treated as a confirmed listing date.
Flipkart IPO Expected Price Band and Issue Size
As of November 2026, Flipkart has not officially announced its IPO price band or final issue size. The company is still preparing for its proposed stock market listing, and the exact details will become clearer after it files its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
According to recent market reports, Flipkart could explore a large public offering with an estimated issue size of ₹15,000 crore or more. However, this is a reported market expectation, not a confirmed figure.
Expected Flipkart IPO Details
What Could Determine Flipkart's IPO Price?
The final IPO price band will depend on several factors, including:
- Company Valuation: Flipkart's overall business valuation and growth potential.
- Financial Performance: Revenue, profitability, operating costs and debt position.
- Market Conditions: Investor demand and prevailing stock market conditions.
- Peer Comparison: Valuations of other listed e-commerce and technology companies.
Flipkart IPO GMP Today
As of 14 November 2026, the Flipkart IPO Grey Market Premium (GMP) is not available because the company has not officially announced its IPO price band or opened its public issue. No confirmed grey market premium has been reported so far.
The Grey Market Premium (GMP) is an unofficial indicator of investor demand for an IPO before its stock market listing. It provides an indication of market sentiment but does not guarantee the actual listing price or potential returns.
Investors should keep in mind that Flipkart's IPO details, including its price band, issue size and opening date, are yet to be officially confirmed. Therefore, any circulating GMP figures or expected listing gains should be treated with caution.
Flipkart IPO GMP – Latest Status
Note: GMP is an unofficial and unregulated market indicator. Investors should not make investment decisions based solely on grey market premium. Check the company's official IPO documents and SEBI disclosures for verified information.
Flipkart IPO Valuation and Peer Comparison
Flipkart's IPO valuation will be one of the most closely watched aspects of its proposed stock market listing. As one of India's largest e-commerce companies, Flipkart has built a strong position in online retail, supported by its extensive customer base, seller network, logistics infrastructure and businesses such as Myntra and Flipkart Minutes.
Flipkart's Expected IPO Valuation
Flipkart's IPO valuation has not yet been officially announced. However, media reports suggest that the company has been targeting a valuation of approximately $50 billion for its potential public listing.
In July 2026, Flipkart's implied valuation increased to around $38.2 billion following its employee stock buyback programme. This was higher than its previous private funding valuation of approximately $36 billion in May 2024.
Company News - Business Standard+1
However, the proposed $50 billion valuation will depend on several factors, including revenue growth, profitability, market conditions and investor demand. The company will need to demonstrate a sustainable path towards profitability to justify a higher valuation.
Flipkart vs Other E-commerce Companies
Flipkart operates in a competitive e-commerce market where companies such as Amazon, Meesho and AceVector compete for customers and market share. Comparing these businesses can help investors understand Flipkart's market position.
Flipkart Business Model: How Does Flipkart Make Money?
Flipkart operates primarily on a marketplace-based e-commerce business model, connecting customers with sellers through its online platform. Instead of purchasing and selling every product directly, Flipkart allows third-party sellers and brands to list their products, while the company provides technology, payment solutions, logistics and customer support.
Flipkart generates revenue through several key sources:
1. Commission from Sellers
Flipkart charges sellers a commission on every successful order. The commission generally depends on the product category, selling price and applicable seller terms.
2. Advertising and Promotional Services
Brands and sellers pay Flipkart to promote their products through sponsored listings, display advertisements and other marketing campaigns. These services help products gain better visibility on the platform.
3. Logistics and Delivery Services
Flipkart earns revenue from logistics and fulfilment-related services offered to sellers. Its supply chain network, including Ekart, supports product storage, packaging and delivery.
4. Seller Services and Fulfilment
Flipkart provides sellers with services such as warehousing, inventory management, order processing and other marketplace support solutions. Sellers may pay for these services based on the applicable arrangements.
5. Private Labels and Other Business Operations
Flipkart has also explored private-label products and other business opportunities across different categories. These operations provide additional opportunities to generate revenue.
How Flipkart's Business Model Works
The business model follows a simple process:
- Sellers list their products on Flipkart.
- Customers browse and purchase products through the platform.
- Flipkart facilitates the transaction and order processing.
- Products are delivered through its logistics network or fulfilment partners.
- Flipkart earns revenue through seller commissions, advertising and service fees.
Flipkart Financial Performance
Flipkart's financial performance reflects its growth in India's e-commerce market, supported by marketplace services, advertising, logistics, fashion retail and other digital businesses. The company has been focusing on increasing revenue, improving operational efficiency and reducing losses while expanding its business operations.
For a better understanding of its financial position, it is important to examine Flipkart's consolidated financial results, including revenue, profitability, EBITDA, assets, liabilities and borrowings.
Note: The latest reported financial year is FY2025–26 (FY26). The figures below refer to Flipkart Group's consolidated performance under Flipkart Internet Private Limited, unless otherwise specified. All amounts are in ₹ crore.
1. Revenue from Operations
Flipkart Group reported consolidated revenue from operations of approximately ₹1,45,880 crore in FY26, representing an 18% increase compared with the previous financial year.
The growth was supported by its e-commerce marketplace, advertising services, fashion business Myntra and other digital operations. Flipkart's advertising business also recorded 31% growth during FY26, highlighting the increasing contribution of advertising to its overall revenue.
This growth indicates that Flipkart continues to expand its business despite intense competition in India's e-commerce market.
2. Profit and Loss
Despite strong revenue growth, Flipkart Group continued to report a net loss in FY26. However, the company managed to reduce its losses slightly compared with the previous year.
*FY25 revenue is based on restated comparative figures. Figures are rounded.
The net loss declined by approximately ₹178 crore in FY26. However, higher finance costs, exceptional items and deferred tax adjustments affected the overall profitability.
The results show that Flipkart is growing its revenue while continuing to work towards improving its profitability.
3. EBITDA Performance
EBITDA is an important measure for understanding a company's operating performance before interest, taxes, depreciation and amortisation.
In FY26, Flipkart Group reported an improvement of approximately ₹1,500 crore in adjusted EBITDA compared with the previous financial year.
The company also improved its adjusted operating margin from -7.7% in FY25 to -5.4% in FY26, an improvement of 2.3 percentage points.
Some important factors behind this improvement included:
- Higher Gross Margins: Gross margins increased by 23% year-on-year.
- Advertising Growth: Flipkart Ads recorded 31% growth.
- Better Cost Management: Lower overheads supported operating efficiency.
- Improved Unit Economics: The company focused on improving the profitability of its business operations.
Although the company continued to report adjusted operating losses, the improvement in EBITDA indicates progress towards better financial efficiency.
4. Assets and Liabilities
Flipkart's balance sheet reflects its investments in technology, logistics, inventory, digital infrastructure and other business operations.
Its major asset categories include:
- Current Assets: Cash and cash equivalents, inventories, trade receivables and other current assets.
- Non-Current Assets: Property, equipment, technology infrastructure, intangible assets and long-term investments.
On the liabilities side, the company has borrowings, trade payables, lease obligations and other financial commitments.
The increase in borrowings and operating expenses indicates that managing financial obligations remains an important part of Flipkart's business strategy.
For FY26, the company reported higher borrowings alongside its expanding business operations.
5. Debt and Borrowings
Flipkart Group's consolidated borrowings increased significantly in FY26.
The company's borrowings more than doubled during FY26. Finance costs also increased by approximately 86% to ₹1,209 crore, compared with ₹649 crore in FY25.
This increase in debt and finance costs is an important factor to consider when evaluating Flipkart's financial position. Although the company improved its operating performance, higher borrowings could increase its future interest obligations and financial commitments.
Flipkart IPO Objectives: Why Is the Company Going Public?
Flipkart's proposed Initial Public Offering (IPO) is expected to be an important milestone in the company's growth journey. As one of India's leading e-commerce platforms, Flipkart may consider entering the public market to strengthen its financial position, support future expansion and create long-term value for shareholders.
However, as of November 14, 2026, Flipkart has not announced a confirmed IPO date or officially disclosed the final objectives and utilisation of IPO proceeds. The company has indicated that an IPO remains part of its long-term strategic roadmap, but its immediate focus is on improving profitability and strengthening business operations.
The potential objectives behind Flipkart's public listing may include:
1. Funding Business Expansion
An IPO could provide Flipkart with access to public-market capital to expand its e-commerce operations, strengthen its logistics network and increase its presence in smaller cities and emerging markets.
2. Strengthening Technology and Infrastructure
Flipkart continuously invests in technology, digital platforms, supply chain management and customer experience. Public-market funding could support further development in these areas.
3. Supporting New Business Segments
The company is expanding into newer business opportunities, including quick commerce through Flipkart Minutes, digital payments and financial services. Additional capital could help support these growth initiatives.
4. Improving Financial Flexibility
A public listing could provide Flipkart with greater financial flexibility to support its long-term business plans, manage investments and compete in India's rapidly growing e-commerce market.
5. Providing Liquidity to Existing Shareholders
An IPO could create an opportunity for existing shareholders and eligible investors to sell some of their holdings through an Offer for Sale (OFS), subject to the final issue structure.
6. Building Brand Value and Market Credibility
Becoming a publicly listed company could increase Flipkart's visibility, strengthen investor confidence and improve its credibility among customers, business partners and institutional investors.
What Will Flipkart Do With IPO Money?
The exact utilisation of IPO proceeds has not been officially disclosed. The final details will become available through the company's Draft Red Herring Prospectus (DRHP) and subsequent offer documents, once filed.
Important: These are potential strategic objectives, not officially confirmed IPO fund-utilisation commitments. Investors should refer to Flipkart's official offer documents for verified information once they become available.
Flipkart IPO Listing Date and Expected Listing Price
The Flipkart IPO listing date has not been officially announced as of November 14, 2026. The company was preparing for a potential listing on the Indian stock market, but its plans have reportedly been postponed due to market volatility and the need to improve profitability.
According to media reports, Flipkart had been exploring an Indian stock market listing. However, in May 2026, reports indicated that Walmart had asked the company to prioritise operational profitability before proceeding with its IPO plans.
Flipkart IPO Expected Listing Date
There is currently no confirmed listing date for Flipkart. The company has not announced its IPO opening date, closing date or proposed listing schedule.
Before launching the IPO, Flipkart will need to complete the necessary regulatory formalities, including filing its Draft Red Herring Prospectus (DRHP) with SEBI and obtaining the required approvals.
Investors should wait for an official announcement rather than rely on estimated listing timelines.
Flipkart IPO Expected Listing Price
The expected listing price of Flipkart shares is not available yet. The company has not announced its IPO price band, issue size or final valuation.
The listing price will depend on several factors:
- IPO Price Band: The price at which shares will be offered to investors.
- Company Valuation: Flipkart's financial performance, growth potential and market position.
- Investor Demand: Subscription levels and institutional investor interest.
- Market Conditions: Overall stock market sentiment at the time of listing.
- Listing Demand: Demand for Flipkart shares in the secondary market after listing.
How to Apply for Flipkart IPO?
Investors will be able to apply for the Flipkart IPO through a registered stockbroker, trading app or bank-supported ASBA facility once the public issue opens for subscription.
As of November 2026, Flipkart has not announced its official IPO opening date, price band or lot size. The company has also not filed its DRHP with SEBI, so investors cannot apply for the IPO yet.
Steps to Apply for Flipkart IPO Online
Once the IPO opens, investors can follow these steps:
- Open a Demat Account: Make sure you have an active Demat and trading account with a SEBI-registered stockbroker.
- Log in to Your Broker App: Open your trading platform and navigate to the IPO section.
- Select Flipkart IPO: Find Flipkart IPO from the list of ongoing public issues.
- Enter Bid Details: Select the investor category, number of lots and bid price within the announced price band.
- Submit UPI Details: Enter your UPI ID to receive the payment mandate.
- Approve the UPI Mandate: Open your UPI app and approve the mandate before the specified deadline.
- Check Application Status: Track your IPO application and allotment status through your broker or the official registrar's website.
Can You Apply for Flipkart IPO Through ASBA?
Yes. Investors may also apply through the ASBA (Application Supported by Blocked Amount) facility offered by participating banks. Under this method, the application amount is blocked in the investor's bank account instead of being immediately deducted.
If shares are allotted, the required amount is debited. If no shares are allotted, the blocked amount is released.
Important Things to Know Before Applying
- A valid PAN is required.
- An active Demat account is necessary.
- Ensure sufficient funds are available in your bank account.
- Approve the UPI mandate within the given deadline.
- Check the official IPO price band, lot size and subscription dates before applying.
- Avoid relying on unofficial links or unverified IPO application offers.
Conclusion
Flipkart has come a long way from starting as an online bookstore to becoming one of India's leading e-commerce platforms. With a strong customer base, a wide product range and the backing of Walmart, the company has built a solid position in the Indian market. Its growing revenue and improving operating performance are positive signs, but continued losses and increasing borrowings remain areas to watch.
As of November 14, 2026, Flipkart has not announced its IPO date, price band or issue size. Investors will have to wait for the company's official announcement and SEBI filings for confirmed details. Before considering the IPO, it is important to understand Flipkart's financial performance, valuation and potential risks rather than making decisions based on market rumours or expected listing gains. Ultimately, the company's ability to achieve consistent profitability will be an important factor in determining its long-term investment potential.