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Sarkar be like: Paisa hi paisa hoga🤑 #shorts
· 21.05.2024 · 19:45:00 ··· Dienstag ⭐ 0 🎬 8880
📺 Faktenclown
Sarkar be like: Paisa hi paisa hoga🤑 | Flipkart is changing its domicile from Singapore to India | Reverse Flipping of Startup | Gift City India Benefits | Indian government is earning Millions from this | Indian government new revenue source | Startup News | Faktenclown | Fakten Clown
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Flipkart, the e-commerce giant controlled by Walmart, is planning to shift its domicile from Singapore to India, as reported by ET. This move is seen as a step towards an upcoming initial public offering (IPO) in India. Previously, PhonePe, which separated from Flipkart in December 2022, became the first to reverse its domicile. PhonePe’s investors paid Rs 8,000 crore in taxes for the shift, and Flipkart is also expected to incur significant taxes, dependent on its valuation and audits.
Flipkart was valued at $33 billion following a $600 million funding round in December last year, making it the most valued Indian-origin private company. In 2021, it received $3.6 billion led by SoftBank at a valuation of $37.6 billion, but was revalued to $33 billion post-PhonePe separation. Walmart holds an 85% stake in Flipkart, with Tencent and CPP Investment owning 7.1% and 2.3% respectively. Co-founder Binny Bansal exited the company in January 2024.
This domicile shift aligns Flipkart with other late-stage companies like Groww, KreditBee, Pine Labs, Razorpay, Meesho, Eruditus, and Zepto, all moving their base back to India. For more updates, stay tuned!
#Flipkart #IPO #Ecommerce #BusinessNews #India #Singapore #Walmart #PhonePe #StartupNews #TechNews #trending #viral
· 21.05.2024 · 19:45:00 ··· Dienstag
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