Flipkart Defers IPO as Walmart Pushes Profitability-First Strategy

Walmart-owned Flipkart has reportedly deferred its initial public offering (IPO) plans as the company shifts its focus toward achieving profitability. According to reports, Walmart has directed the e-commerce giant to prioritise EBITDA breakeven by the end of FY27 before considering any external fundraising or public listing.

The decision was reportedly taken during Walmart CEO John Furner’s recent visit to Bengaluru. This marks the second major India-focused IPO delay by Walmart after PhonePe also postponed its listing plans amid volatile market conditions. Walmart currently owns over 80% stake in Flipkart.

Flipkart has been working to improve its financial performance by reducing losses and tightening investments, even as competition intensifies in the e-commerce and quick commerce sectors. The company’s marketplace arm, Flipkart Internet, reported a consolidated net loss of Rs 1,494.2 crore in FY25, down 37% year-on-year from Rs 2,358.7 crore in the previous fiscal.

Reports also suggest that Flipkart has paused plans for a pre-IPO funding round to maintain focus on margin improvement. At the same time, the company is witnessing leadership changes, including the resignation of Group CFO Sriram Venkataraman earlier this year.