Flipkart, a subsidiary of Walmart, is planning an expansion in India to successfully stand up to competitors. It will need about $3 billion to increase its product offerings.
Walmart is considering two possible scenarios to achieve the goal. The first is to find a large strategic partner, and the second is to sell Flipkart to a large investment company. However, at the moment, Walmart hasn’t officially started looking for partners or doing fundraising.
Flipkart's current estimated value is reported to be more than $40 billion. Although last year, when the company succeeded to raise $3.6 billion in a securities offering round, its estimated value was $37.6 billion.
Flipkart became a subsidiary of Walmart in 2018, at which time Walmart acquired it for $16 billion with an option to become public in 4 years. This is considered the largest deal of all time for Flipkart.
However, this April 2022, it was revealed that the company plans the U.S. listing only next year, and the target value of the IPO was raised to $70 billion.