The ET GenAI Hackathon 2026 has announced the results of its Idea Submission phase, with the shortlist finalised after evaluating entries from more than 54,000 builders across India. Shortlisted teams now advance to the Prototype Development Phase
The fast-expanding war between the United States, Israel, and Iran has captured global attention largely because it is disrupting oil and gas supplies from the Persian Gulf. Yet another resource is now emerging as far more critical to the survival of the region’s societies. Water
Indian technology stocks have seen an unprecedented rout over the past few weeks over fears of artificial intelligence upending the traditional outsourcing model that powers the country's $300bn (£223bn) back-office industry. The sell-off - part of a global correction in traditional software and
The ruling Bharatiya Janata Party-led National Democratic Alliance (NDA) on Monday managed an easy victory in the biennial polls to five Rajya Sabha seats in Bihar, with its candidates including Chief Minister Nitish Kumar and BJP national president Nitin Nabin
Star Brazilian forward Neymar didn’t receive a call-up to the national team squad for the upcoming friendlies against France and Croatia, although striker Endrick found a spot. With this snub, Neymar’s hopes of playing at the upcoming FIFA World Cup have received a massive blow
If one wants to explore the many debates and controversies surrounding the Congress and its role in shaping India’s political trajectory, there may soon be a new address in the capital to turn to. At 3, Safdarjung Lane, the official residence of Nishikant Dubey — the Bharatiya Janata Party MP
Chelsea have been handed a Premier League record fine of £10.75m and a suspended transfer ban. It was a result of the club making secret payments to unregistered agents and third-parties over transfers between 2011 and 2018. But it could have been a lot worse
Iran’s National Security Chief Ali Larijani on Monday penned a note to Muslim countries, questioning their lack of support for Tehran as the US-Israeli war is now entering its third week with no clear end in sight, disrupting global energy supplies and raising fears of a spike in global inflation
Flipkart gets IPO ready with NCLT nod to flip back domicile to India
Walmart-owned ecommerce marketplace Flipkart has received clearance from the National Company Law Tribunal (NCLT) to shift its domicile from Singapore to India, in a move that takes it closer to a much-anticipated public listing on the Indian exchanges, according to people in the know.
The Bengaluru-based online retail company, which is planning to file the draft papers for its initial public offering in 2026, has now sought approval from the central government under the Press Note 3 rules. “Chinese investor Tencent holds a 5–6% stake in Flipkart…which is why the ecommerce firm needs a nod from the government to bring its Singapore parent company under the fold of the Indian entity. However, since Flipkart is majority owned by its US parent, it is unlikely to be a major hurdle,” one of the persons said, adding that the nod from a Singapore court was received a few weeks ago.
Under the Press Note 3 rules, which were implemented in 2020, any foreign investment coming into a domestic company from a country that shares a land border with India needs to be cleared by the government. In May 2018, Walmart acquired a 77% stake in Flipkart for $16 billion. The etailer's other shareholders include Microsoft, Canada Pension Plan Investment Board and SoftBank.
Once the flipback process is completed, Bengaluru-based Flipkart Internet Pvt Ltd will become the primary entity, housing all operations and subsidiaries, including fashion e-tailer Myntra, logistics company Ekart, and others.
Flipkart did not respond to ET's queries at the time of publishing.
The company's board of directors had approved the re-domiciling process in April. In May 2024, ET had reported that Flipkart closed a $1 billion funding round, which included a $350 million investment from Alphabet's Google at a valuation of about $35-36 billion.
Also Read: Reverse flipping by Indian startups gathers steam: Here's all you need to know
Ahead of its IPO plans, Flipkart appointed former senior Meta executive Dan Neary to its board of directors.
Flipkart's IPO will mark the second public offering from Walmart's India stable after payments company PhonePe, which filed draft papers under Sebi's confidential route in September for a $1.5-billion issue.
Flipkart group entities have narrowed their losses as they cut back on expenses, although revenue growth has been muted amid a wider slowdown in online retail overall. Financial statements of Flipkart group entities showed losses for Flipkart Internet, in-house logistics arm Ekart, and online travel portal Cleartrip narrowed 2-36% on-year. Myntra, the Flipkart-owned fashion and beauty etailer, saw its profit jump almost 18-fold during FY25.
At Rs 20,493 crore, Flipkart Internet posted a 14% increase in revenue in 2024-25, while its net losses fell 37% to Rs 1,494 crore.
Flipkart's IPO will follow the listing of its younger ecommerce rival Meesho, which went public on December 10.
Also Read: Meesho listing unlocks billions in wealth for founders, early investors Elevation, Peak XV
Source: EconomicTimes
Related Posts: Flipkart's Big Billion Day sales lift Walmart International's third quarter Walmart International’s margins squeezed by Flipkart Walmart-backed Flipkart to invite banks for IPO pitch in April Govt e-Marketplace Helps To Rake In Rs 2 Government e-Marketplace Surpasses Rs 15 Lakh Crore in Cumulative GMV Amazon expands AWS Marketplace to India Amazon India marketplace slashes losses by 89% in FY25 IFFK to screen all films despite Centre denying clearance Jana Nayagan Gets U/A 16+ Clearance After Madras HC Order RBI Gives Banks More Time To Roll Out Quicker Cheque Clearance In Phase 2
Opposition MPs ended their Lok Sabha protest, cooperating with the ruling side while urging the Speaker to revoke the suspension of eight members. The decision to resume participation was influenced by the desire to discuss railway and agriculture ministry demands
1 hours ago
Former India captain Sunil Gavaskar has said Sunrisers Leeds' signing of Pakistan spinner Abrar Ahmed "indirectly contributes to the deaths of Indian soldiers and civilians". Gavaskar's comments are the most high-profile criticism of Sunrisers' deal for Abrar at last week's Hundred auction
1 hours ago
The US artificial intelligence (AI) firm Anthropic is looking to hire a chemical weapons and high-yield explosives expert to try to prevent "catastrophic misuse" of its software. In other words, it fears that its AI tools might tell someone how to make chemical or radioactive weapons
1 hours ago
Kerala Congress (M), BDJS announce names of 12 candidates eachKerala Congress (M) and BDJS announced candidates for the upcoming assembly polls, including KC(M) chairman Jose K Mani from Pala and 12 others from BDJS. Published on: Mar 17, 2026 7:36 AM IST By Vishnu Varma
1 hours ago
Nagaon MP Pradyut Bordoloi expressed strong displeasure over Dr. Asif Nazar being considered for the Lahorighat Assembly ticket, citing Nazar's alleged association with an individual charged in an attack on Bordoloi. Bordoloi wrote to AICC General Secretary Jitendra Singh
1 hours ago
A sessions court in Gujarat’s Gir Somnath district on Monday convicted five persons and acquitted 35 others in connection with a 2016 case in which seven Dalits were assaulted in the town of Una, The Indian Express reported. Additional Sessions Judge Jignesh Pandya of the court in Veraval
1 hours ago
It's Hollywood's biggest night. The 98th Academy Awards featured emotional speeches, comical relief and a bevy of backstage fun. But it was perhaps a night to forget for Timothée Chalamet. As well as losing out to Michael B Jordan for best actor and One Battle After Another for best picture
1 hours ago
US President Donald Trump on Monday said more than 30 mine laying ships of Iran have been destroyed which has affected Tehran’s capacity to threaten commercial shipping in the Strait of Hormuz. “We are hammering their capacity to threaten commercial shipping in the Strait of Hormuz with more
1 hours ago
Love Horoscope Today for March 17, 2026: A spontaneous moment could lead to a meaningful connectionLove Horoscope Today, March 17, 2026: Find daily astrological predictions for all sun signs. Published on: Mar 17, 2026 7:28 AM IST By Neeraj Dhankher Share via Copy link Aries: Mars is pushing you to
1 hours ago
Dubai arrests Iranian drone strike survivors after they sent explosion photos to loved ones3 foreigner nationals who survived drone strike in Dubai have been arrested after sending photos of the explosions to family members. Updated on: Mar 16
1 hours ago
‘Firms need to move to adaptive, energy-efficient AI models’Sarah Hooker is convinced that the future lies in AI systems that use less computing power, cost less to run and can adapt to the needs of users. Published on: Mar 17, 2026 6:58 AM IST By Shweta Taneja Share via Copy link In the last
1 hours ago
Baghdad witnessed a significant drone and rocket attack on the U.S. embassy early Tuesday. This incident marks the most intense assault since the commencement of the U.S.-Israel war with Iran. Iraqi security forces have heightened their presence across the capital. The Green Zone
1 hours ago
Russell Wilson trade update: Chiefs hand a shock to Giants QB with Justin Fields move Published on: Mar 17, 2026 5:03 AM IST By Khushi Arora Share via Copy link New York Giants quarterback Russell Wilson (3) waves to fans after the game against the Dallas Cowboys (IMAGN IMAGES via Reuters Connect)
1 hours ago
![London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial](http://newsorbit360.com/files/news/en/imgs/chelsea-fined-and-faces-supended-transfer-ban-by-premier-league.webp?height=520)
London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial Reporting and Third Party Investment.In 2022, Chelsea FC’s current owners voluntarily reported to the League that they had evidence of
1 hours ago
A Bengaluru-based cafe has drawn attention on social media after adding a 5 per cent “Gas Crisis Charge" to a customer’s lemonade order, sparking debate on social media platform X. The unusual fee, applied on a bill for two mint lemonades, has left many users amused and some questioning its
1 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Still using an older laptop? These Intel 13th Gen laptops show what modern performance feels likeIntel 13th Gen laptops bring improved performance
1 hours ago
US President Donald Trump said on Monday that he is planning to delay a high stakes visit to China later in March by about a month because of the Iran war. "We've requested that we delay it a month or so," he told reporters at the White House
1 hours ago
LDF ally ISJD, UDF ally RSP name candidates for four seats eachThe ISJD and RSP announced their candidates for Kerala Assembly polls, with ISJD's K Krishnankutty retiring from politics and RSP seeking assembly representation. Published on: Mar 17, 2026 7:30 AM IST By Vishnu Varma
1 hours ago
Horoscope Today, March 17, 2026: Operational strategies at work need refinementHoroscope Today: Read the astrological predictions for each zodiac sign based on an expert's guidance on March 17, 2026. Published on: Mar 17, 2026 7:19 AM IST By Dr Prem Kumar Sharma
1 hours ago
A parliamentary panel has flagged the Ministry of Social Justice and Empowerment for surrendering nearly a quarter of funds sanctioned for Scheduled Caste welfare schemes. The committee found the ministry's inability to utilize allocated funds and its consistent budget scaling down at revised
1 hours ago
Fino Payments Bank clarifies the ongoing probe relates only to certain programme managers and merchants associated with multiple banks. Also Read :10 people dead after fire breaks out at Odisha’s Cuttack SCB Medical College; CM announces Rs 25 lakh ex-gratia assistanceFino Payments Bank clarifies
1 hours ago
The report from Elara Capital said retail gasoline and diesel prices “could be fully protected through excise cuts until roughly $110/bbl, beyond which price hikes on diesel and gasoline would become inevitable”. Also Read :Fino Payments Bank Shares Fall To 52-Week Low Amid Probe Reports;
1 hours ago
Punjab Assembly session: House passes motion against LoP Bajwa over ‘band player’ remarkThe Punjab assembly condemned opposition leader Partap Singh Bajwa for alleged derogatory remarks about a minister, leading to chaos and a walkout by Congress. Published on: Mar 17
1 hours ago
More than a thousand citizens in Ladakh's Leh and Kargil regions rallied on Monday, echoing calls for statehood and adherence to the Sixth Schedule. Leaders from the Apex Body Leh alongside the Kargil Democratic Alliance expressed their discontent regarding the central government's stance
1 hours ago
Menstrual pain is often dismissed as an inevitable part of being a woman. But when cramps become debilitating, interfere with daily life or are accompanied by chronic pelvic discomfort, they may signal something more serious. One such condition is endometriosis – a long-term disorder affecting
1 hours ago
Khushbu Sundar comes out in support of Trisha amid her viral pics with Vijay: ‘She is one of the most dignified women’Khushbu Sundar has addressed the online chatter surrounding the public appearance of Vijay and Trisha Krishnan, after the divorce petition filed by Sangeeta. Mar 17, 2026
1 hours ago
Rex Culpepper's fiancee pays sweet tribute after tragic bike accident death: ‘I don’t regret' Published on: Mar 17, 2026 4:55 AM IST By Yash Nitish Bajaj Share via Copy link Former Syracuse quarterback Rex Culpepper died after an accident on Saturday (Instagram/Rex Culpepper) Rex Culpepper
1 hours ago
