Flipkart owner: Walmart holds about 80% after buying more from Tiger Global and Binny Bansal
Flipkart is owned mainly by Walmart, which holds about 80% after buying control in 2018 and more shares from Tiger Global, Accel and Binny Bansal in 2023. Flipkart is unlisted.
Flipkart is owned mainly by Walmart, which holds about 80% after buying a 77% stake in 2018 and more shares from Tiger Global, Accel and co-founder Binny Bansal in 2023. The rest is held by smaller investors, including Tencent and Microsoft. Walmart disclosed in an SEC filing that it spent $3.5 billion in the first half of 2023 on Flipkart shares and on liabilities to former PhonePe shareholders, according to TechCrunch. 12
Who owns Flipkart? Ownership at a glance
| Shareholder | Stake | Note |
|---|---|---|
| Walmart | About 80% | Latest reported figure, 2023; 77% when it bought control in 2018 |
| Binny Bansal | About 1.84% in 2022 | Sold more to Walmart in 2023 |
| Tencent | About 0.72% in 2022 | Early investor |
| Tiger Global | Sold its remaining stake in 2023 | Made a $3.5 billion gain on $1.2 billion invested |
| Sachin Bansal | Nil | Sold his 5.5% to Walmart in 2018 |
Flipkart is unlisted, so it does not publish a quarterly shareholding pattern, and the percentages above come from news reports and Walmart filings. The most recent official figure is Walmart’s “about 80%”. 234
How did Walmart become Flipkart’s owner?
In May 2018 Walmart agreed to buy a 77% stake in Flipkart Group for $16 billion, with SoftBank selling its entire 20% and Sachin Bansal selling his 5.5%. Binny Bansal, Tencent, Tiger Global and Microsoft stayed on as shareholders. Walmart also put $2 billion of new equity into the company. Our Flipkart company page covers the history. 56
Why did Walmart buy more Flipkart shares in 2023?
Walmart bought shares from Tiger Global, Accel and Binny Bansal, which raised its stake from about 72% to about 80%. Tiger Global made $3.5 billion on an investment of $1.2 billion, its biggest win in India. Flipkart was valued at $37.6 billion in a 2021 funding round. 12
Who owns PhonePe?
PhonePe was part of Flipkart but has been separated, and Walmart also owns the majority of it. The payments firm raised $850 million from investors including General Atlantic, Tiger Global and Walmart. See the PhonePe company page. 1
Is Flipkart an Indian or American company?
Flipkart is an Indian business founded in Bengaluru in 2007 by Sachin Bansal and Binny Bansal, and since 2018 it has been controlled by the US retailer Walmart. Its financials are reported as part of Walmart’s International segment. The founders now back start-ups through personal funds and family offices. 43
What happens next
Walmart’s annual and quarterly filings are the best guide to any change in its stake. Our reports on who owns DMart and who owns the Tata Group cover other big Indian retail and conglomerate names.
Frequently asked questions
Who is the owner of Flipkart?
Flipkart is owned mainly by Walmart, which holds about 80% according to its 2023 SEC filing. Other shareholders include Tencent, Microsoft and other investors.
Who founded Flipkart?
Sachin Bansal and Binny Bansal founded Flipkart in Bengaluru in 2007.
When did Walmart buy Flipkart?
Walmart bought a 77% stake in 2018 for $16 billion.
Is Flipkart an Indian or American company?
Flipkart is an Indian company founded in Bengaluru and controlled by the US retailer Walmart since 2018.
