{"id":3736751,"date":"2026-05-15T09:37:00","date_gmt":"2026-05-15T13:37:00","guid":{"rendered":"https:\/\/www.pymnts.com\/?p=3736751"},"modified":"2026-05-15T09:37:00","modified_gmt":"2026-05-15T13:37:00","slug":"walmart-tells-flipkart-shelve-ipo-plans-focus-profitability","status":"publish","type":"post","link":"https:\/\/www.pymnts.com\/news\/ipo\/2026\/walmart-tells-flipkart-shelve-ipo-plans-focus-profitability\/","title":{"rendered":"Walmart Tells Flipkart to Shelve IPO Plans, Focus on Profitability"},"content":{"rendered":"<p><a href=\"https:\/\/www.walmart.com\/\">Walmart<\/a> tapped the brakes on <a href=\"https:\/\/www.flipkart.com\/\">Flipkart<\/a>\u2019s long-anticipated public market debut.<\/p><div\r\n\tid=\"article-paywall-overlay\"\r\n\tclass=\"d-none\"\r\n>\r\n\t<div id=\"article-paywall-content\" class=\"my-4\">\r\n\t\t\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f2699550-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"2699550\">\n<div class=\"screen-reader-response\"><p 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href=\"https:\/\/pymnts-com-develop.go-vip.net\/terms-conditions\/\">Terms and Conditions<\/a>.\n\t\t\t\t<\/p>\n\t\t\t\t<p><input id='hiddenPath' type='hidden' name='path' value='' \/><input type='hidden' name='userDeviceId' id='userDeviceId' \/><input type='hidden' name='pageTitle' id='pageTitle' \/>\n\t\t\t\t<\/p>\n\t\t\t<\/div>\n\t\t\t<div class=\"col-12\">\n\t\t\t\t<div id='formButtonRow' class='container mt-1 px-0'>\n\t\t\t\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner btn btn-dark text-uppercase py-2 px-5 small\" id=\"theSubmitButton\" type=\"submit\" value=\"Submit\" \/>\n\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><input type=\"hidden\" name=\"post_id\" value=\"3736751\" \/><input type=\"hidden\" name=\"source\" value=\"https:\/\/www.pymnts.com\/news\/ipo\/2026\/walmart-tells-flipkart-shelve-ipo-plans-focus-profitability\/\" \/><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"38\"\/><script>document.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );<\/script><\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\r\n\t<\/div>\r\n<\/div>\r\n<div id=\"article-paywall-hidden-content\">\r\n\t\n<p>The U.S. retail giant is telling its Indian eCommerce subsidiary to reach profitability first, Moneycontrol <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/startup\/walmart-owned-flipkart-to-defer-ipo-prioritise-profitability-this-financial-year-13920125.html\">reported<\/a> Friday (May 15), making the decision one of the clearest signals yet that Walmart is tightening financial discipline across its global operations.<\/p>\n<p>The move comes as Walmart itself crosses the $1 trillion <a href=\"https:\/\/www.pymnts.com\/walmart\/2026\/walmart-reaches-1-trillion-market-cap-aided-by-embrace-of-ecommerce-and-ai\/\">market cap<\/a> threshold and reorganizes its <a href=\"https:\/\/www.pymnts.com\/walmart\/2026\/walmart-cuts-or-moves-1k-jobs-amid-greater-tech-focus\/\">technology<\/a> teams, suggesting that the parent company is in no mood to take risks on speculative capital raises in uncertain markets.<\/p>\n<p>Walmart asked Flipkart to defer its initial public offering and instead achieve EBITDA breakeven before the end of financial year 2027, the report said. EBITDA refers to earnings before interest, taxes, depreciation and amortization, and it is a widely used measure of operating profitability.<\/p>\n<p>The directive applies to any external fundraise, whether in private or public markets, according to the report.<\/p>\n<p>The decision was made during Walmart CEO and President <a href=\"https:\/\/www.linkedin.com\/in\/furner\/\">John Furner<\/a>\u2019s visit to Bengaluru last week, per the report.<\/p><div id=\"pymnt-2000580314\" class=\"pymnt-content pymnt-entity-placement\" style=\"margin-top: 50px;\"><p style=\"text-align:center\">Advertisement: Scroll to Continue<\/p><script async type=\"text\/javascript\" id=\"dianomi_context_script\" src=\"https:\/\/www.dianomi.com\/js\/contextfeed.js\"><\/script> \r\n<div class=\"dianomi_context\" data-dianomi-context-id=\"4329\"><\/div><\/div>\n<p>\u201cIt was his first trip to India, where he met the broader Flipkart team, since assuming the role in February,\u201d the report said.<\/p>\n<p>Flipkart has been a Walmart <a href=\"https:\/\/www.pymnts.com\/news\/partnerships-acquisitions\/2018\/walmart-flipkart-acquisition-partnership-retail\/\">subsidiary<\/a> since 2018, when Walmart paid approximately $16 billion to acquire a controlling stake. An <a href=\"https:\/\/www.pymnts.com\/walmart\/2022\/walmart-backed-flipkart-looks-to-raise-up-to-3b-on-40b-valuation\/\">IPO<\/a> for the Indian platform has been discussed for years but has repeatedly been <a href=\"https:\/\/www.pymnts.com\/walmart\/2024\/walmart-says-phonepe-and-flipkart-ipos-years-away\/\">pushed back<\/a>.<\/p>\n<p>Meanwhile, Walmart is repositioning itself for a new era. The company crossed the $1 trillion <a href=\"https:\/\/www.pymnts.com\/walmart\/2026\/walmart-reaches-1-trillion-market-cap-aided-by-embrace-of-ecommerce-and-ai\/\">market cap<\/a> milestone in February, driven by eCommerce growth and its <a href=\"https:\/\/openai.com\/\">OpenAI<\/a> partnership. In April, Walmart touted artificial intelligence-driven <a href=\"https:\/\/www.pymnts.com\/news\/retail\/2026\/walmart-touts-people-and-ai-in-annual-report\/\">productivity gains<\/a> and its 650-store <a href=\"https:\/\/www.pymnts.com\/walmart\/2026\/walmart-upgrades-650-stores-amid-interest-from-high-stress-shoppers\/\">renovation<\/a> push.<\/p>\n<p>This month, the company said it plans to cut or relocate approximately 1,000 <a href=\"https:\/\/www.pymnts.com\/walmart\/2026\/walmart-cuts-or-moves-1k-jobs-amid-greater-tech-focus\/\">corporate jobs<\/a> as it consolidates its global technology and product teams.<\/p>\n<p>\u201cIn some cases, we\u2019ve had different teams working on similar problems,\u201d executives reportedly said in a memo, which added that affected workers can apply for open roles at Walmart.<\/p>\n\r\n<\/div>\r\n<script>\r\n\twindow.pymntsAllowedArticleCount = 1;\r\n\twindow.pymntsPostID = 3736751;\r\n<\/script>","protected":false},"excerpt":{"rendered":"<p>Walmart tapped the brakes on Flipkart\u2019s long-anticipated public market debut. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content \u2014 no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1276881,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","pymnts_footnotes":""},"categories":[15162],"tags":[4152,6699,4419,9206,133069,9621,4598,5299],"class_list":["post-3736751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-ecommerce","tag-flipkart","tag-ipo","tag-news","tag-pymnts-news","tag-retail","tag-walmart","tag-whats-hot"],"acf":{"suggested_titles":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Walmart Tells Flipkart to Shelve IPO Plans, Focus on Profitability<\/title>\n<meta name=\"description\" content=\"Walmart tapped the brakes on Flipkart\u2019s long-anticipated public market debut, telling its eCommerce subsidiary to reach profitability first.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pymnts.com\/news\/ipo\/2026\/walmart-tells-flipkart-shelve-ipo-plans-focus-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walmart Tells Flipkart to Shelve IPO Plans, Focus on Profitability | PYMNTS.com\" \/>\n<meta property=\"og:description\" content=\"Walmart tapped the brakes on Flipkart\u2019s long-anticipated public market debut. 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