Walmart also aims to take the 17-year-old company public. Walmart bought a controlling stake in Flipkart in 2018, which also gave it ownership of PhonePe, a fintech firm also preparing for an IPO.

Flipkart's new lending license in India allows Walmart's majority-owned e-commerce platform to make loans to its customers and to marketplace sellers.

Walmart Inc.’s WMT global strategy relies heavily on its investments in key markets like China and India, with Flipkart leading its e-commerce and advertising initiatives. These two regions are ...

With this, Flipkart has also become India’s first ecommerce company to fetch an NBFC licence. Notably, the Walmart-backed company applied for the NBFC licence in 2022, the report added.

Founded in 2007, Bengaluru-based Myntra was acquired by Flipkart in 2014. Walmart bought a controlling stake in Flipkart in 2018 for $16 billion.

Flipkart India Pvt., the e-commerce giant owned by Walmart Inc., is using social videos and livestreams to convert young consumers spending a lot of time on their smartphones into loyal customers.

Walmart International CEO Kathryn McLay has said that the retail giant’s India ecommerce arm, Flipkart, will not prioritise profitability over market share and future growth. “We’re excited ...

Walmart Inc. ’s WMT global strategy relies heavily on its investments in key markets like China and India, with Flipkart leading its e-commerce and advertising initiatives.