Flipkart's board and management are considering a full buyout of stocks held by current employees as the timeline for the e-commerce giant's initial public offering remains uncertain, according to three people familiar with the discussions. The buyout for current employees could take place any time from January to March 2027, with parent company Walmart expected to be the buyer. Stock options held by current and former employees are estimated to be worth about $4 billion, with the buyout for current employees estimated at approximately $2 billion. A similar plan for ex-employees will be considered later, with no timeline established for the subsequent transaction, as per people familiar with the discussions.
A group of at least eight former Flipkart CXOs and senior executives have approached Walmart's board seeking "fair and equitable treatment" for equity earned during the company's early years. The letter, signed on October 1, includes ex-Myntra CEO Mukesh Bansal, former Flipkart CBO Ankit Nagori, ex-CTOs Amod Malviya and Ravi Garikipati, former CPO Mekin Maheshwari and former VP Anuj Chowdhary. As per the letter, former employees have held their options since 2008 and 2016 and are asking for "fairness" rather than special treatment, stating they "contributed their time, effort, expertise, and commitment to building the business." The group emphasized that many of them joined during the company's earlier, more uncertain years when the future value of these options was far from certain, and requested that Walmart provide a complete exit opportunity to all eligible former employees holding vested options.
E-commerce giant Flipkart has acquired a minority stake in TravClan, a global B2B travel technology platform, as the e-commerce major looks to expand its international travel offerings across Cleartrip and Flipkart Travel. The investment aims to strengthen international travel supply and expand holiday package offerings across Cleartrip and Flipkart Travel. The companies have not disclosed the financial terms of the deal. This strategic move comes as Flipkart continues to build its travel presence alongside its core e-commerce business, having acquired online travel company Cleartrip in 2021.
Nishant Verman, SVP, corporate development and partnerships at Flipkart, stated that investing in TravClan strengthens the company's ability to offer international holiday packages while deepening travel capabilities. "Travellers today are looking for more than a flight or hotel booking. They want a holiday that is curated around their interests and supported throughout the journey," Verman explained. The partnership will enable customers to access curated holiday experiences supported throughout their journey, moving beyond traditional flight and hotel bookings to comprehensive travel solutions. According to Moneycontrol, TravClan powers outbound leisure travel with direct supplier listings across domestic and international destinations, enabling more than 15,000 travel agents to instantly customise and book real-time packages, hotels, and activities, backed by round-the-clock on-ground customer support.
Arun Bagaria, co-founder and CEO of TravClan, highlighted that India is becoming one of the largest outbound travel markets globally, with travellers taking their first international trips driving significant growth. The company's direct supplier relationships and ground teams allow it to offer competitive pricing and destination-level support. By integrating TravClan's partner network, technology and destination operations, Cleartrip and Flipkart Travel can offer customers a wider range of international holiday packages with on-ground assistance. The investment will support investment in global supply, technology and destination expansion as TravClan scales its platform and grows its team across business development, engineering and destination operations.
The IPO timeline remains uncertain for Flipkart, with private talks of around $2 billion earlier this year not proceeding as planned. Walmart has asked CEO Kalyan Krishnamurthy to prioritise profitability before pursuing public market ambitions. In a joint statement, Walmart and Flipkart told Moneycontrol that a public listing remains part of the company's strategic roadmap and the IPO will happen "when the timing is right." The former executives have asked Walmart's board for a written response to their request, adding that they "hope that Walmart will ensure that the value created over the years is shared fairly among all those who contributed to that journey." Flipkart has said that its priority is to serve customers, and that an IPO is a target for the company, with the company focusing on readiness today to ensure a strong public debut from a position of clear operational and financial strength.
