Flipkart to defer IPO till 2028: report

Bangalore-based e-commerce firm Flipkart , majority owned by US-based Walmart, has deferred its plans for an initial public offering (IPO) until at least 2028. Consequently, the company has also put its plans to raise a $2.5 B pre-IPO round on hold. The company is currently shifting its focus toward achieving EBITDA breakeven within the current financial year.In preparation for listing, Flipkart has implemented several structural adjustments, including a reverse flip from Singapore to India, workforce reductions and the divestment of stakes in brands such as Flying Machine and Aditya Birla Lifestyle Brands.