Walmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters.
, will be aiming for a valuation in the $45-$50 billion range, according to one source with knowledge of the matter.Flipkart is likely to choose between Singapore, or the United States for the initial public offering , said two other sources, who asked not to be named as discussions are private.
The discussions come as India drafts new regulations that could pave the way for domestic companies to directly list overseas. “Right now, the IPO target is more or less considered to be late 2021, or early 2022, but the current crisis has made things a little blurry,” said one of these two sources. It turned Flipkart’s founders Sachin Bansal and Binny Bansal into billionaires, and confirmed Flipkart’s status as the country’s most successful start-up at the time.
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Exclusive: Walmart's Flipkart eyes overseas listing as early as 2021: sourcesWalmart Inc-controlled Indian e-commerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters.
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