Initial Public Offering for Flipkart and PhonePe may not come about for another two years, a top executive of Walmart, the firm that owns the two firms, said.
"This is something we're looking at over the next couple of years," Walmart’s executive vice president for corporate affairs, Dan Bartlett, said on Thursday, according to Reuters.
The executive was speaking on the sidelines of the company's shareholder meeting near its Bentonville, Arkansas, headquarters.
According to Bartlett, Walmart may put the IPO of payments firm PhonePe ahead of e-commerce business Flipkart, even though the latter is older and more mature of the two.
"There's a lot of processes that have to be put in place before we go public," Bartlett said, referring to PhonePe, adding, "Obviously the question about the Indian exchange versus others" is "under consideration" for the future IPO listing.
PhonePe holds 51 per cent share of the total India digital payments market.
According to an executive of its parent company, PhonePe, which was acquired by Walmart in 2023, had a total payment value of $1.3 trillion as of 2023.
Speaking at the Morgan Stanley retail conference held last year, the executive said that the Flipkart marketplace and PhonePe payments operations in India could be $100 billion businesses.
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