Flipkart completes shift of holding company to India, moves closer to domestic listing

Walmart-owned ecommerce marketplace Flipkart has completed the process of shifting the domicile of its holding company from Singapore back to India, marking a key step as the company moves towards a potential listing on Indian stock exchanges.

The move follows the final approval from the Union government under Press Note 3 rules, people aware of the matter said. The company had earlier received a nod from the National Company Law Tribunal (NCLT) in December for the restructuring but was awaiting central government clearance because Chinese technology company Tencent holds about a 5–6% stake in Flipkart.