Flipkart may list overseas by 2021

Highlights :

Flipkart may list overseas by 2021
Walmart had in 2018 acquired a majority stake in Flipkart for $16 billion
Flipkart's subsidiary, PhonePe, is also looking to turn profitable by 2022 and go public by 2023.

Flipkart may go public as early as next year at a valuation and of $40-45 billion. Flipkart would look at an overseas listing, either in US where it's parent company Walmart is based or another country.

Walmart had in 2018 acquired a majority stake in Flipkart for $16 billion, valuing the Bengaluru-based Company at $21 billion.

As per Walmart's timeline, the IPO could be done by 2022. But the digital transformation in India, with customers increasingly moving online to shop, has been so rapid that it has made Flipkart grow much faster.

Flipkart's subsidiary, PhonePe, is also looking to turn profitable by 2022 and go public by 2023.

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