Flipkart IPO to Take Place in November Next Year
News Synopsis
Flipkart has finally announced that the company will be launching its IPO next year. The CEO of Flipkart, Kalyan Krishnamurthy has said that the company will go for an IPO in November or December next year. The CEO also said that this IPO can be pushed to 2023 due to some inappropriate market factors.
Kalyan Krishnamurthy, also said that the scaling of the grocery business would be a critical part in the journey of IPO, and this is why Flipkart has increased its shareholdings in NinjaCart earlier this week.
It's also looking forward to a possibility of overseas listing and can raise a pre-IPO round in the January- March quarter of next year to raise its valuation before going public for its IPO. Walmart acquired 77% of Flipkart shares in 2018. Currently it holds 75% shares in Flipkart.
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