Flipkart is making a big change, the company is preparing to bring IPO in 2021

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Flipkart may soon launch an IPO.

Flipkart may soon launch an IPO.

Walmart is working on a plan to bring Flipkart’s IPO to the US stock market. The company wants to raise $ 10 billion from the IPO of Flipkart. For this, the company has appointed Goldman Sash as Consultant.

  • News18No
  • Last Updated:
    December 24, 2020 8:25 PM IS

new Delhi. Flipkart, an e-commerce company owned by Walmart, is about to launch its IPO soon. Before this, Flipkart has made many major changes in its board. In the year 2021, Kekri Mistry will take over the responsibility of Director along with Group CEO Kalyan Krishnamurthy in Flipkart as Vice President and CEO of HDFC Officer Also, two new directors have been created on the board of Flipkart, which includes Walmart’s Global Chief Technical Officer Suresh Kumar and Chief Development Officer Leigh Hopkins.

Group CEO gave information via email
Kalyan Krishnamurthy, Group CEO of Flipkart, informed the employees of the company via email. He also gave this information to current board members Stuart Walton, Dirk van den Berghe, Walmart Asia executive vice president. At the same time, Rajendra Mago and Rohit Bhagat, co-founders of Make My Trip, who left the board, were also informed. Let us tell you that Rohit Bhagat has recently joined the digital payment app Phonepe.

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Walmart is working on plans to bring Flipkart’s IPO to the US stock market. The company wants to raise $ 10 billion (Rs 73.93 thousand crore) from the IPO of Flipkart. For this, the company has appointed Goldman Sash as a consultant.

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His stake in Flipkart
Walmart owns an 82.3% stake in Flipkart. 5.21% is owned by Chinese gaming company Tencent. Apart from this, the company’s founder Binny Bansal holds 1.45% stake. In such a situation, if this IPO plan is successful, then it will be the largest listing of any Indian company in the foreign market.

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