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Walmart’s Flipkart Considers U.S. Listing With SPAC as Option

  • Company is seeking a valuation of at least $35 billion
  • E-commerce firm has been weighing an IPO in the U.S.
Flipkart Ltd. headquarters in Bengaluru. 

Flipkart Ltd. headquarters in Bengaluru. 

Photographer: Namas Bhojani/Bloomberg

Walmart Inc.’s Flipkart is exploring going public in the U.S. through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.

The Bengaluru-based online retailer has been weighing a U.S. initial public offering and it’s now also looking at other options, the people said. Flipkart’s advisers have approached several SPACs, said one of the people, who asked not to be identified as the information is not public. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the people said.