Among those who have stepped down from the company is Gunjan Bhartia, who had joined Flipkart as senior vice-president in January 2026 to lead business finance for eKart. Sunder Balasubramanian, who had been serving as the chief marketing officer at Myntra since 2022, has also exited.
Amer Hussain, who was appointed vice-president of supply chain for Flipkart’s Grocery and Minutes businesses in January, is also serving his notice period, according to people familiar with the matter. His appointment had been part of a senior leadership strengthening exercise at Flipkart ahead of its anticipated IPO.
People aware of the developments said that the uncertainty is particularly affecting senior employees holding employee stock options (ESOPs). These employees had expected a public listing to provide significant liquidity and potentially re-rate the value of their holdings.
A detailed email query sent to Flipkart did not elicit a response till the time of publishing.
According to sources, the churn is not limited to CXO-level positions, as several directors and senior directors are also understood to be evaluating or moving to opportunities outside the Flipkart group.
Recently, Nandita Sinha, who had served as Myntra’s chief executive officer (CEO) since January 2022, stepped down in April and was succeeded by Sharon Pais. Sinha subsequently joined Swiggy as CEO of Instamart, effective August 3.
As highlighted in Sinha’s case, Swiggy’s quick-commerce (qcom) vertical Instamart is among the businesses that are understood to be in discussions with talent from the broader Flipkart group, sources said.
Another company emerging as a destination for Flipkart employees is First Club, which has raised significant funding. In June this year, the qcom startup raised $55 million in a Series B round led by Peak XV Partners and Sofina, with participation from existing investors such as Accel, RTP Global, and Paramark Ventures. The company, in fact, has itself been founded by a former Flipkart executive, Ayyappan R.
FirstClub has reportedly appointed Sonika Pranay, a former Flipkart Group HR leader with over 15 years of experience, as its head of people & culture.
The exits come at a time when Flipkart has not set a timeline for its public listing. In a conversation with this newspaper last month, Flipkart group CEO Kalyan Krishnamurthy had said, “The decision on something like an IPO is not my decision. It’s a decision which will be led by the majority of investors and obviously will get discussed at the board. Right now, we’re not there. So we’ve not had these kinds of discussions right now.”
In March this year, Flipkart completed the reverse-flipping process of shifting its corporate headquarters back to India from Singapore, paving the way for a domestic stock market listing. However, the company’s IPO has reportedly been deferred to 2028, with no tentative timeline in sight.
In July this year, according to an internal memo from Krishnamurthy, Flipkart had said it would allow eligible employees to cash out a portion of their employee stock options for the second time under a previously announced liquidity programme.
Under the Flipkart Stock Option Plan 2026, all active employees as of July 15, 2026, are able to liquidate up to 5 per cent of their outstanding stock options that vested between July 16, 2023, and July 15, 2026. The liquidity price was set at Rs 713.4 per option, with payouts scheduled for August 2026, according to the memo.
Flipkart Internet, the marketplace arm of Flipkart, reported revenue of Rs 20,493 crore in FY25, a 14 per cent increase over the previous year. Net losses narrowed 37 per cent to Rs 1,494 crore, according to regulatory filings with the Registrar of Companies. The revenue growth marks a slowdown from the 21 per cent rise in FY24.
