E-commerce giant Flipkart is planning to defer its public listing as parent company Walmart has reportedly instructed the company to focus on achieving breakeven at the EBITDA (earnings before interest, taxes, depreciation, and amortisation) level.
The Bengaluru-based company has been asked to achieve the target by the end of this financial year, Moneycontrol reported.
The decision to focus on profitability while deferring the initial public offering (IPO) plan was reportedly taken during Walmart CEO John Furner’s India visit last week.
This would be the second IPO deferment by Walmart after PhonePe delayed its listing plans due to heightened market volatility.
Walmart owns 71.8 percent of PhonePe and more than 80 percent of Flipkart.
Flipkart Internet, the marketplace arm of Flipkart, posted a consolidated net loss of Rs 1,494.2 crore in FY25, a decline of 37 percent year-on-year.
In the previous financial year, the company had reported a loss of Rs 2,358.7 crore. However, the losses were significantly higher at the group level.
The company is also undergoing a phase of leadership restructuring. In March, Flipkart Group Chief Financial Officer Sriram Venkataraman resigned from his role.
Venkataraman, who has been with Flipkart for more than a decade, will not leave immediately. He is expected to remain with the company for the next few months to help ensure a smooth transition. This will allow the company to manage its financial operations without disruption.
Until a new CFO is appointed, Ravi Iyer will oversee Flipkart’s broader finance operations.
The company has not yet announced a permanent replacement for Venkataraman. The interim arrangement is aimed at maintaining stability in financial leadership.
Alongside this development, Flipkart has also made a new senior appointment. Nishant Verman has joined as Senior Vice President for Corporate Development and Partnerships. This move is seen as part of the company’s effort to strengthen its leadership team.
