Flipkart gets NCLT nod to shift domicile to India

Mumbai: Flipkart has secured go ahead from the National Company Law Tribunal (NCLT) to shift its domicile to India from Singapore, taking the Walmart-controlled firm a step closer to IPO, said people aware of the matter. Flipkart did not respond to queries.In April this year, the company had started the process of shifting its base to India, joining a clutch of new age companies that flipped back to the country to align better with local norms and list in domestic bourses amid a booming primary market. For brands that cater to Indian consumers and are well-known locally, it makes sense to go for an IPO here. Flipkart, the second company from Walmart’s India stable to prepare for an Indian listing after PhonePe, is eyeing an IPO in 2026.