In the span of two years, Flipkart's valuation has decreased by $5 billion, reaching $35 billion by January 2024, down from $40 billion in January 2022. Walmart, its parent company, diluted 8% equity for $3.2 billion in FY2022, valuing Flipkart at $40 billion.
However, in FY2024, Walmart increased its stake by 10% for $3.5 billion, pegging Flipkart's value at $35 billion. This decline is attributed to the demerger of PhonePe, Flipkart's fintech arm, into a separate entity. Despite this, sources estimate Flipkart's current valuation to be between $38-40 billion.