Walmart acquires 77% stake in Flipkart Group

US retail giant Walmart Inc. has acquired approximately 77 per cent of Indian e-commerce company Flipkart, marking one of the biggest investments in the country’s rapidly expanding online retail sector.

Under the agreement, Walmart’s investment includes $2 billion in fresh equity funding aimed at accelerating Flipkart’s growth. The remaining stake will continue to be held by existing shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global and Microsoft.

Despite the change in ownership, Walmart and Flipkart will retain their respective brands and operating structures in India. Flipkart’s existing management team will also continue to run the business.

Walmart International President and CEO Judith McKenna said the partnership would combine the strengths of both companies and contribute to India’s economic growth.

She said Walmart’s investment would help provide customers with access to quality and affordable products while creating skilled jobs and new opportunities for suppliers.

The deal gives Walmart a major foothold in India’s e-commerce market at a time when online shopping is expanding rapidly, driven by increasing smartphone use, digital payments and growing internet access beyond major metropolitan cities.

Flipkart’s board structure will also continue to include representatives from Tencent Holdings and Tiger Global Management, along with independent directors and new members nominated by Walmart. The board is expected to preserve Flipkart’s entrepreneurial culture while helping the company strengthen its competitive position.

Flipkart’s financial performance will now be included in Walmart’s International business segment.

Flipkart co-founder and Group CEO Binny Bansal described the transaction as an opportunity to combine Walmart’s global retail expertise with Flipkart’s understanding of the Indian market.

He said Walmart’s experience in omni-channel retail, supply-chain management and financial resources, combined with Flipkart’s technology, talent and local market knowledge, could help drive the next phase of growth in Indian retail.

The acquisition also reflects Walmart’s broader ambitions in India beyond online commerce. The company said future investments would focus on areas such as job creation, support for small businesses and farmers, supply-chain development and reducing food waste.

For Flipkart, the deal provided access to Walmart’s global resources at a crucial stage in the company’s expansion. For Walmart, the acquisition offered a direct entry into one of the world’s fastest-growing retail markets and intensified competition with other major players seeking to dominate India’s emerging digital economy.