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4d ago

Flipkart moves legal domicile to India as it prepares for IPO, ramps up growth

This shift comes after the company reported order growth accelerating toward 30% by June, a sixfold increase in AI spending, rapid expansion of its quick commerce arm, substantial IPO groundwork.

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Overview

  • Flipkart has initiated the process to shift its legal domicile from Singapore to India to align more closely with the country’s economic and regulatory environment.
  • The company reported a current order growth rate of 20–25% and is on track to reach 30% by June.
  • Flipkart plans to increase its investment in artificial intelligence sixfold this year as part of its future-readiness strategy.
  • Its quick commerce arm Minutes is expanding at a rate of two new dark stores per day and aims to reach 800 locations by year-end.
  • Executives said substantial groundwork for the company’s upcoming IPO has been completed over the past 12 months.