'Looking at right time to list Flipkart'

1 year ago 23

MUMBAI: Walmart is exploring the right time for its Flikpart business to go public amid strong growth of the firm's India unit, the US retailer's international president and CEO

Kathryn McLay

said during the company's earnings call on Thursday.
"As the

Flipkart

business has grown, we have seen Myntra get to

ebitda

positive for the last two quarters.

We have seen some growth in premiumisation and all of that is lifting the profile of Flipkart's business. They are on track to the growth trajectory that we had them on, and we are looking and exploring when the right time to

IPO

that business will be," McLay said, adding that there's strong growth in both Flipkart and

PhonePe

.
The company's president and CEO

Doug McMillon

told analysts that that same-day delivery orders in India grew by over 150% in the quarter. With Indians increasingly gaining appetite for faster deliveries, Flipkart is also planning to enter the quick commerce segment soon.

Article From: timesofindia.indiatimes.com

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