US retail giant Walmart owns a retail majority stake in the Indian e-commerce retailer Flipkart. Walmart has said it is “open to an IPO” for its Indian e-commerce arm Flipkart but there is “no specific timeline” for the share sale.
Flipkart and payment app phone pay continue to do well. Walmart International President and CEO Judith McKenna said while speaking at the DBAccess Global Consumer Conference on June 7.
“We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO,” said McKenna. However, she noted that there is no specific timeline for the IPO.
