Walmart (WMT)-owned e-commerce firm Flipkart is planning to move into live event ticketing as more Indian consumers spend their money on entertainment.
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Live Sport and Movies
According to a Reuters report, Flipkart, which is majority owned by Walmart, is looking to start selling movie, concert and sporting tickets, notably cricket, in India.
The country’s online event ticketing market is booming and is expected to zoom higher from $3.6 billion in 2025 to $7.9 billion by 2034. It’s being driven by increased disposable incomes, digital penetration, mobile app adoption and rising demand for live entertainment such as music and cricketing events including the Indian Premier League.
According to the report, Flipkart is looking to launch into the market next month taking on competition such as Accel-backed BookMyShow and Zomato’s District.
It is not just live events on the menu. Flipkart is also understood to be preparing a pilot food delivery from May.
Getting Ready for IPO
It all comes ahead of a potential Flipkart IPO.
Flipkart, which started in 2007 by selling books online, moved its holding company to Singapore in 2011. Walmart bought a controlling stake in Flipkart in 2018 for $16 billion.
Flipkart was last valued in 2024 at around $37 billion, when Alphabet’s (GOOGL) Google picked up a $350 million minority stake in it.
The company is aiming to list in Mumbai before March 2027, though it has yet to firm up its valuation for the IPO or its size. However, analysts expect it to target an around $40 billion valuation.
Walmart, which owns roughly 75% of Flipkart, is likely to retain majority control even post-IPO. That is because it wants to continue growing its international revenues – see above.
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 28 Buy and 2 Hold ratings. Its highest price target is $150. WMT stock’s consensus price target is $138.85, implying a 9.94% upside.
