Exclusive: Flipkart Internet Receives INR 533 Cr From Singapore Parent

Flipkart Internet, the marketplace arm of Walmart-owned Flipkart, has secured INR 533 Cr (around $62 Mn) funding from its Singapore-based parent entity Flipkart Marketplace Private Limited and its step-down subsidiary Quickroutes International Private Limited.

The ecommerce giant’s board issued 76,179 equity shares at INR 69,966.28 per share on a rights issue basis to raise the funds from Flipkart Marketplace and Quickroutes International in Singapore, according to the company’s regulatory filings with the Registrar of Companies (RoC).

Flipkart did not respond to Inc42’s queries on the development till the time of publishing this story.

This is the second major fund infusion in Flipkart Internet from its Singapore-based related entities in 2025. Earlier this month, Flipkart, through its Singapore holding company, .

Last year, its Singapore-based related entities injected $281 Mn in Flipkart Internet in multiple tranches.

Flipkart Internet in the fiscal year 2023-24 (FY24). It primarily generates revenue from seller commissions and advertising.

Back To Bharat: Flipkart Gets Board Nod For Reverse Flip

The new funding comes at a time when Flipkart is drawing up plans for its highly anticipated initial public offering (IPO). The ecommerce major has reportedly received approval from its board to shift its base to India.

Earlier this week, the company announced its intention to shift its base to India from Singapore.

The transition reflects Flipkart’s “deep and unwavering commitment to India” and aligns with the country’s strong economic growth and digital transformation initiatives, a company spokesperson said in a statement.

Founded in 2007 by Sachin and Binny Bansal, Flipkart operates through multiple entities in India, including Myntra (fashion), Flipkart Internet (ecommerce marketplace), eKart (logistics), Flipkart Health+ (healthtech), cleartrip (travel tech), Flipkart Wholesale (online B2B marketplace), among others. Walmart acquired a 77% stake in Flipkart for $16 Bn in 2018.

With plans to tap the public markets in the next 12-18 months, Flipkart is focussing on achieving profitability at the Group level as most of its subsidiaries (except Mnytra) are loss making.

To spruce up revenue and boost its bottom line, Flipkart has been diversifying into new segments, including .

Startup IPO Boom Fuels Reverse Flipping Trend

Flipkart is the latest new-age tech company to join the reverse flip parade. The likes of PhonePe, Groww, and have already shifted their domicile back to India ahead of their planned IPOs. Earlier this month, fintech major Pine Labs also got the final go-ahead of NCLT for its ‘desh wapsi’.

Meanwhile, new-age tech companies such as , Eruditus, Udaan, Freo, CleverTap, and KreditBee are also said to be in the process of moving their base back to India.

The reverse flip trend comes amid an easing regulatory environment and heightened investor interest in new-age tech stocks. 2024 was a blockbuster year for startup IPOs, with 13 new-age tech Indian companies, including Swiggy, Ola Electric, Awfis, Go Digit and MobiKwik, making their public market debut. These startups cumulatively raised over INR 29,000 Cr via their IPOs last year.

Notwithstanding Trump tariffs and the ongoing global trade war, more than 20 new-age tech companies are expected to hit Dalal Street this year. This includes edtech startup, quick commerce unicorn Zepto, omnichannel jewellery startup BlueStone, , coworking space providers Smartworks and , among others.

It is important to note that another ecommerce major Meesho is also gearing up for an IPO. which is expected to be launched by year-end.

 

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