Flipkart Group CFO Sriram Venkaraman Steps Down Ahead Of IPO

Walmart-owned Flipkart Group’s CFO Sriram Venkaraman is stepping down from his post after a near 15-year long stint with the ecommerce major.

Venkataraman has been part of the company since 2015. Flipkart did not disclose the reasons behind his departure or specify a timeline for his exit, but confirmed that he will stay on for a transitional phase.

In the interim, Flipkart has elevated senior vice president Ravi Iyer to the role of CFO. Iyer joined the company as a senior director of business finance back in 2014.

Additionally, the company has also re-appointed Nishant Verma as senior vice president of corporate development and partnerships. He had earlier served as the VP of this function for almost six years before departing in 2020, playing a critical role in Walmart’s majority stake acquisition in the company.

The development comes at a time when the company is actively preparing to list on the domestic bourses. Last month, it completely redomiciled to India from Singapore, paving the way for a much-anticipated public listing in the near future. The reverse flip had been years in the making, with final approval from the government coming in February.

Additionally, it has commenced talks with several investment bankers, including Goldman Sachs, Kotak Mahindra Capital, Morgan Stanley and JP Morgan, to assess the feasibility of the public offering.

On the financial front, Flipkart Internet, the company’s marketplace arm, reported a 14% uptick in its FY25 operating revenue to ₹20,493 Cr from ₹17,907 Cr in FY24.

During the same period, its net loss declined 37% to ₹1,494 Cr from ₹2,359 Cr a year earlier.

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