Do we like Flipkart?
Indian e-commerce marketplace (Bengaluru) selling electronics, fashion and groceries, with its own logistics arm.
Our score: 5 out of 10. Mixed. India's big home-grown marketplace is moving to electric delivery, but it has long-running foreign-investment and competition cases hanging over it. We'd hold off.
Flipkart is the Bengaluru-based online marketplace that Walmart bought a big majority of in 2018. Secondary reports put Walmart's stake at 75% or more. It isn't listed yet, but Krishnamurthy has reportedly held early talks with banks about an IPO around late 2026 or early 2027.
The big cloud is regulatory. In 2021 India's Enforcement Directorate issued a show-cause notice to Flipkart and its founders over alleged foreign-investment violations, with a possible $1.35bn penalty. In October 2025 the ED reportedly offered to close the case if Flipkart admits the mistake and pays a penalty. We couldn't confirm whether Flipkart accepted.
There's also a competition probe. The CCI ordered an investigation in 2020 into Amazon and Flipkart. In September 2024 a Flipkart subsidiary received the CCI investigation report alleging certain competition law violations. These are allegations, not findings.
On the bright side, Flipkart has pledged a fully electric delivery fleet by 2030 and reported passing 10,000 EVs in late 2024. It has since launched EV Assist, which helps delivery partners get electric vehicles, with claims of up to 20% higher take-home pay. That's a decent green step, but those claims come from Flipkart's own launch coverage.