India, March 22 -- Flipkart has started aligning itself for the country's most anticipated new-age tech IPO listing. Its reverse flip to India is a clear signal that the Walmart-backed ecommerce giant is ready for this step, even if temporarily the market has slowed down. 

When the time comes, there will be a lot of interest around what is expected to be the largest IPO by valuation among Indian tech startups. 

On the surface, Flipkart will pitch itself as India's largest horizontal ecommerce marketplace. However, the narrative underneath is more compelling, as it will also lean on Flipkart Minutes, the ecommerce giant's gateway to quick commerce. And this could well be Flipkart's real moat.

 Public market investors toda...