Overview
- The Delhi NCLT on December 12 sanctioned a composite scheme allowing eight Singapore entities to be folded into Flipkart Internet through a two-stage cross-border merger.
- In stage one, seven Singapore subsidiaries merge into Flipkart Internet, then the Singapore parent is folded in, positioning Flipkart Internet as the main Indian unit for businesses such as Myntra and Ekart, with the transferor leg cleared by Singapore’s High Court on November 28.
- The tribunal directed Flipkart to place Singapore proceedings on record and specified that the scheme takes effect only after all effective-date conditions are met.
- The order bars any debt restructuring, requires eight-year record preservation and employee safeguards, and keeps the sanction subject to CCI, RBI and SEBI approvals where applicable.
- A separate Press Note 3 clearance is required due to Tencent’s roughly 5–6% stake, with Indian Express reporting the sign-off could come within days as Flipkart readies IPO plans widely reported for 2026; FY25 operating revenue reached Rs 20,493 crore and net losses narrowed 37%.