Flipkart CEO signals strong growth as company advances India IPO plans

Business Standard

26-05-2025

Flipkart Group Chief Executive Kalyan Krishnamurthy said on Monday the Walmart-backed e-commerce firm is witnessing strong growth momentum and progressing with preparations for a potential initial public offering (IPO) in India, including relocating its legal domicile from Singapore.
Speaking at an internal town hall, Krishnamurthy said Flipkart's leadership structure is strengthening, and the redomiciling process is proceeding as planned, according to people familiar with the matter.
Flipkart is targeting a public listing as early as next year, with a potential valuation of $60–70 billion. If successful, it would be India's largest consumer technology IPO to date.
The company is currently reporting 20–25 per cent year-on-year growth in customer base and order volumes, with monthly order volumes averaging 130 million, the sources said.
Flipkart has begun relocating its holding company from Singapore to India, a move intended to facilitate its IPO. The company's board has approved the redomiciling, which is expected to be completed within 12–15 months.
Flipkart, last valued at $36 billion, has been streamlining operations and strengthening its board in preparation for going public.
Krishnamurthy reaffirmed the company's commitment to redomiciling, calling it a 'statement of intent' that aligns with India's economic and regulatory framework.
'As we've initiated the flip back of the company, I am confident we'll maintain our focus on profitability, with renewed emphasis on customer centricity,' he said. 'This move brings Flipkart even closer to where our heart has always been.'
Expanding amid fierce competition
India's e-commerce market is projected to reach $325 billion by 2030, with an annual growth rate of 21 per cent. Flipkart faces growing competition from Amazon, Meesho, Reliance's JioMart, and the Tata Group.
At the event, Krishnamurthy and senior executives including Seema Nair (CHRO), Hemant Badri (Head of Supply Chain), and Ramesh Gururaja (Consumer Shopping Experience) outlined Flipkart's strategic progress in talent, innovation, and expansion.
Flipkart's quick commerce arm, Minutes, continues to perform well. The company aims to expand its dark store network to 800 by the end of the year.
The firm is also focusing on key growth verticals such as customer experience, Shopsy (its value-commerce platform), travel services, and Gen Z engagement. Its fintech arm, super.money, has shown strong momentum with recent product launches.
People, culture, and AI-first transformation
Seema Nair highlighted Flipkart's deepening leadership pipeline and focus on workforce development through upskilling and training initiatives.
She also said the company plans to scale artificial intelligence across operations to enhance productivity and innovation.
'With a resilient, collaborative, and future-focused team, we're better positioned than ever to lead the evolution of India's digital retail ecosystem,' said Nair. 'We are proud to consistently drive the culture of entrepreneurship that we have been known for.'
Enhanced customer experience
Ramesh Gururaja, recently appointed Senior Vice President of Consumer Shopping Experience, said the company is focusing on delivering more personalised and engaging interactions, especially for Gen Z consumers.
He noted that enhanced UX design and loyalty programmes are at the core of Flipkart's broader customer engagement strategy.