Flipkart Eyes India Domicile Ahead of IPO: Follows Meesho in Major Corporate Restructuring Trend

📅 Mumbai, June 29, 2025 – In a move mirroring a growing trend among Indian startups, e-commerce giant Flipkart is reportedly exploring a domicile shift from Singapore to India—a strategic move that could pave the way for a landmark Initial Public Offering (IPO) on Indian exchanges. The development follows closely on the heels of social commerce unicorn Meesho, which recently re-domiciled from the United States to India ahead of its ₹4,250 crore IPO filing.

Flipkart, currently majority-owned by Walmart, is one of India’s most valuable tech companies. The company’s domicile shift is expected to align its corporate structure with Indian regulatory norms, facilitating smoother capital market access and appeasing domestic institutional investors eager to back homegrown tech champions.

“We are assessing the regulatory and market readiness to evaluate a potential public listing in India,” a Flipkart spokesperson told industry insiders, hinting at imminent structural changes.

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🔍 Trend: The Great Domicile Shift

With India’s capital markets maturing and investor appetite for tech IPOs rising, several startups are returning ‘home’ by shifting their legal domicile from overseas jurisdictions back to India. Meesho, originally registered in the U.S. as Fashnear Technologies Pvt Ltd, formally became Meesho Pvt Ltd on May 13, 2025, marking a decisive shift in its IPO strategy.

Flipkart is now expected to follow suit, reportedly working with legal advisors and investment banks to facilitate the transition.

“There’s a clear signal that India’s regulatory and funding environment has evolved to support large-scale tech IPOs,” said a senior analyst at a Mumbai-based brokerage.

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💼 IPO Ambitions & Investor Expectations

It’s IPO, if launched on Indian stock exchanges, could be one of the largest domestic tech listings ever, rivalling Zomato and Paytm. Analysts say listing in India not only boosts public goodwill and brand image but also opens doors to local retail and institutional investors.

Meesho’s IPO, valued at ₹8,500 crore ($1B), is also expected to set a template for other Indian startups contemplating public listings in India over international markets.

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📈 Corporate & Governance Restructuring

• The Company is reportedly working on a governance overhaul, including board realignment and shareholding consolidation.
• Meesho elevated Co-Founder & CEO Vidit Aatrey to Chairman & Managing Director as part of its pre-IPO restructuring.
• Flipkart’s potential move could help Walmart eventually partially exit or dilute its stake through the IPO route.

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