Flipkart, India’s e-commerce poster boy is looking at the US stock markets to raise around $5 billion through an initial public offering (IPO) in the next 12-18 months. Flipkart is already preparing the papers and has engaged investment bankers for the IPO. It does not want to list in India as foreign private equity investors have the largest share and say in the company and, secondly, it is registered in Singapore.
The company has US-based Tiger Global as its largest investor followed by Russia’s DST Global. Since inception in 2007, the company has raised over $2.5 billion and is valued at $12 billion at present.