New Delhi, March 10 -- Walmart's Indian e-commerce firm Flipkart has shifted its holding company to India from Singapore, the company said on Monday, paving the way for its planned stock market listing in the country. The firm joins dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills but are now queuing to return home from financial hubs such as Singapore due to better IPO prospects in the country.

In a statement, Flipkart said it has received the Indian government's approval for its internal restructuring and it has now completed its "redomiciliation" to India, calling it "a significant milestone".

Flipkart, which started in 2007 by selling books online, expanded into a behemo...