Mumbai, 7/4: Walmart-owned Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a US listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters.
Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set an IPO valuation goal of $50 billion, Reuters has reported.
The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations further by focussing on two of its relatively new businesses — online healthcare services and travel bookings, two of the sources with direct knowledge said.
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