India's Flipkart raises IPO valuation target to $60-70b, postpones listing to 2023

India's Flipkart raises IPO valuation target to $60-70b, postpones listing to 2023

Photo: Mint

Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a US listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters.

Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set an IPO valuation goal of $50 billion, Reuters has reported.

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