Walmart-controlled e-commerce company Flipkart has secured approval from the Indian judicial body the National Company Law Tribunal (NCLT) to relocate its holding company from Singapore to India.
The move advances the Bengaluru-based online retail company’s plans to go public, with an aim to submit draft initial public offering (IPO) papers in 2026, according to media reports.
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However, it has not set a definitive timeline for the listing.
The tribunal has approved the merger of eight Singapore-registered entities into Flipkart Internet, the India-incorporated company that will become the main operating entity for the group’s domestic businesses.
Following the consolidation, Flipkart Internet will function as the main unit for the group’s Indian operations, including fashion platform Myntra and logistics provider Ekart.
As part of the reorganisation, Flipkart has also applied for approval from the central government under Press Note 3 regulations, which mandate clearance for investments originating from countries sharing a land border with India.
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By GlobalDataThe requirement is triggered by the shareholding of the Chinese technology company Tencent in Flipkart.
The NCLT decision removes a significant regulatory obstacle in the so-called reverse flip, which involves transferring ownership from an overseas holding structure to an Indian entity and consolidating the group’s corporate framework within India.
Flipkart originally moved its headquarters to Singapore in 2011.
The company’s board endorsed the decision to re-domicile in India in April 2025.
The retailer was founded in 2007 as an online bookstore. The Walmart-owned Flipkart Group encompasses Flipkart Wholesale, Flipkart Health+, Cleartrip and Myntra.
Walmart acquired a 77% stake in Flipkart in May 2018 for $16bn. Other investors iare Microsoft, the Canada Pension Plan Investment Board and SoftBank.
In early 2025, the company undertook the shift in legal domicile to bring its corporate structure into closer alignment with its largely India-focused operations.
