Flipkart Group CFO Sriram Venkataraman is stepping down from his role, the company said on Friday, as the Walmart-backed firm prepares for a potential initial public offering (IPO) in India.
Venkataraman, who has been with Flipkart for over a decade, will leave over the next few months. The company has not yet announced a successor. “Sriram will remain with the company for a period of time to ensure continuity and a smooth transition. During this period, Ravi Iyer, CFO, Flipkart, will oversee the broader finance of the organisation,” the company said. Flipkart also appointed Nishant Verman as senior vice president, where he will handle corporate development and partnerships.
According to a Bloomberg report, Flipkart may begin the formal process of inviting banks to pitch for IPO-related work as early as next month. The company has reportedly held informal discussions with investors and bankers regarding a possible Mumbai listing. The IPO could happen later this year or in early 2027, although plans are still at an early stage.
The leadership change follows recent layoffs affecting around 400–500 employees, about 3–4% of its workforce, higher than the usual annual figure. The cuts impacted multiple departments, while the company continues hiring for senior roles.
Financially, Flipkart India reported a wider loss of Rs 5,189 crore in FY25, up from Rs 4,248.3 crore the previous year. However, revenue rose 17.3% to Rs 82,787.3 crore, with expenses also increasing 17.4% to Rs 88,121.4 crore.