Flipkart in Conversation to Raise $3 Billion at a Valuation of Over $40 Billion

Flipkart in Conversation to Raise $3 Billion at a Valuation of Over $40 Billion

Flipkart, a Walmart-owned Indian e-commerce company is in conversation to raise at least $3 billion (approximately Rs. 21,850 crores) from investors including Japan's SoftBank Group & numerous sovereign capital reserves, Bloomberg News proclaimed.

Flipkart in Conversation to Raise $3 Billion at a Valuation of Over $40 Billion

The startup is striving for an estimate of around $40 billion (approximately Rs. 2,91,130 crores) & is in discussions with Singapore's GIC Pte., Canada Pension Plan Investment Board, & the Abu Dhabi Investment Authority, the statement declared, referring people familiar with the subject.

SoftBank could fund $300 million (approximately Rs. 2,180 crores) to $500 million (approximately Rs. 3,640 crores) of the entirety by its Vision Fund II, as per the reports.

Flipkart in Conversation to Raise $3 Billion at a Valuation of Over $40 Billion

Flipkart, SoftBank, & the Abu Dhabi Investment Authority did not instantly acknowledge Reuters demands for explanation.

SoftBank marketed its almost 20% stake in the e-commerce companies to Walmart in 2018.

The Indian organization is in the initial steps of examining moving public in the United States by a contract with a blank-check firm, references close with the subject.

Flipkart in Conversation to Raise $3 Billion at a Valuation of Over $40 Billion

A news agency exclusively announced in September that Bengaluru-situated Flipkart was planning to go abroad-selling process as early as 2021, which could consider the company at as much as $50 billion (approximately Rs. 3,63,920 crores).


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Last updated:6/7/2021 11:27:06 PM
Shraishth Verma

Shraishth Verma

Journalism graduate with a knack for finding stories and presenting them to the public. Hoping to drive my media journey high, with a big spoon of sugar and stirred chai.