Walmart-owned e-commerce company Flipkart announced on Tuesday that it will relocate its domicile from Singapore to India — a move widely viewed as paving the way for a potential public listing in the Indian market. Currently, Flipkart is based in Singapore.

“Flipkart, India's homegrown e-commerce platform, proudly based and operating in India, has shared its intention to relocate its holding company from Singapore to India,” the company said in a public statement. “This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India,” the statement further said.

Flipkart has been pondering over public listing in India. “As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation's growing digital economy and entrepreneurship,” the company said.

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