Walmart asked Flipkart to defer its initial public offering and instead reach breakeven on operating profitability before the end of financial year 2027, with the directive applying to any external fundraise in either private or public markets. The decision was made during Walmart CEO and President John Furner’s first visit to Bengaluru since assuming the role in February, where he met with Flipkart’s leadership team. Walmart has owned a controlling stake in Flipkart since 2018, when it paid approximately $16B in the acquisition, and Flipkart’s IPO has been discussed and pushed back repeatedly over the years.
