09 Sep 2021
Posted in Business Fundamentals
Flipkart prepares ground for IPO, hires for those with listing experience, observes GlobalData
Flipkart’s plans for an IPO in 2021 could well be on track. The India-based e-commerce giant’s recent listings suggest that the company is hiring for mid-level and senior-level positions aimed for IPO preparedness, among other key responsibilities. The company is posting jobs to staff its financial planning and analysis (FPA) and the consolidating and reporting teams in a bid to strategize for an IPO, observes GlobalData, a leading data and analytics company.
Ajay Thalluri, Business Fundamentals Analyst at GlobalData, says: “Flipkart has over 880 active jobs open for recruitment in September 2021* and some of its recent listings that refer to IPO give further credence to its plans to go public in 2021. In July 2021, the company raised US$3.6bn considered to be a pre-IPO exercise that put its valuation at US$37.6bn. The company sets to liaise with Walmart Inc., for all public market disclosures.”
An August 2021 listing for ‘Senior Manager – Finance’ shows that incumbent provides financial reporting under international financial reporting standards (IFRS) for the group, supporting IPO preparedness. Besides, the company also expects active participation on IPO related activities.
Another role – ‘Associate Director’ – points that the company is gearing up to have reports under the US generally accepted accounting principles (US GAAP). Additionally, the role suggests that having IPO listing experience would be needful. According to ‘Associate Director – Business Finance’ role, the company is coordinating with external consultants and advisors on IPO strategy.
Mr Thalluri concludes, “Flipkart is looking for bulk hiring, going by its listings for experienced recruiters. With the company setting for an IPO, hiring could be robust, especially with plans to expand warehouse network in India.”
*Data as on 6 September 2021