Walmart’s India-based 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, Reuters reports, citing people familiar with the matter.
The Bengaluru-based online retailer has been weighing a U.S. IPO 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. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the people said. Still, a traditional IPO is the more likely outcome, Reuters reported. Read more.
