Flipkart IPO Delayed to 2028 as Walmart blocks fundraising and demands EBITDA breakeven in FY27

Walmart told Flipkart to pause fundraising before IPO

Flipkart has reportedly deferred its IPO plans to at least next year, with Walmart—the retailer holding 80%—pushing the company to prioritize EBITDA breakeven in FY27. Walmart is said to have asked Flipkart to pause fundraising, putting its planned $2–2.5 billion pre-IPO round on hold. The move also raises questions about Flipkart Minutes, its quick commerce arm, which is capital- and cash-burn heavy amid fierce competition. Flipkart’s internal restructuring and cost efforts have not yet convinced Walmart.