Good news! Flipkart will now bring IPO Walmart after Paytm

Jun 10 2021 04:02 PM
Good news! Flipkart will now bring IPO Walmart after Paytm

New Delhi: Amid the Corona crisis, US retail giant Walmart said it is ready to bring an initial public issue (IPO) for its Indian e-commerce unit Flipkart but there is no clear deadline for the same at present. Judith McKena, President and CEO of Walmart International, told the DB Access Global Consumer Conference on Tuesday that both Flipkart and payment app Phone Pay are doing well continuously. He said, "On the day we have acquired or invested, we have made it clear that we are ready for an IPO".

McKena, however, said there is no time frame for stock sales at present. He said, "If we build a strong business and we continue to do things that we need to do to ensure long-term and sustainable development, there is definitely a possible route that we will consider in future, but there is certainly no clear time frame for that (IPO) at the moment.

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