Indian e-commerce firm Flipkart has delayed its IPO until 2023 and is seeking a valuation of around $70 billion, sources said

2022-07-24 0 By

Flipkart, Walmart’s Indian e-commerce unit, plans to list in the US in 2023 instead of this year, according to two people familiar with the matter.Separately, Flipkart has internally raised its IPO valuation by about a third to between $60bn and $70bn.Two people familiar with the matter said the main reason for the delay was Flipkart’s desire to further boost its valuation by focusing on two relatively new businesses: online medical services and travel booking.In addition, continued global market turmoil has forced Flipkart to rethink its IPO timetable.