India: Flipkart IPO may ride piggyback on post-COVID boom in e-commerce

Walmart Inc., it seems, is a bit tired of leading funding rounds at its Indian e-commerce bet Flipkart and its online payments subsidiary PhonePe. A Mint report said it was working for an IPO for Flipkart, at a valuation of $40 billion. Earlier this year, in a funding round that was led by Walmart, Flipkart was valued at $24.9 billion.