Along with being open to selling to large pure-play investment firms, the world’s biggest retailer is ready to introduce strategic investors for the Indian company, according to the report. Presently, Flipkart is valued around 40 billion dollar and may dilute nearly 7 per cent to raise as much as 3 billion dollar. The retailer had raised 3.6 billion dollar in a funding round, quoting it a valuation of 37.6 billion dollar during last year
Walmart Inc-backed Flipkart is planning to raise 2 billion dollar to 3 billion dollar for a valuation of around 40 billion dollar. This will let it expand its product range in India and its challenge competitors, reported a media house on 25 October.
Along with being open to selling to large pure-play investment firms, the world’s biggest retailer is ready to introduce strategic investors for the Indian company, according to the report.
However, no formal announcement has been made by Walmart regarding inducting investment bankers to look for strategic partners and large global investors for the latest fundraising plan, the report added.
Presently, Flipkart is valued around 40 billion dollar and may dilute nearly 7 per cent to raise as much as 3 billion dollar. The retailer had raised 3.6 billion dollar in a funding round, quoting it a valuation of 37.6 billion dollar during last year.
Flipkart was acquired by Walmart with 77 per cent stake for around 16 billion dollar in 2018. It was the biggest deal ever which later in the year said to that it could take the company public in four years.
According to reports by a media agency, the Indian e-commerce company Flipkart had internally raised its IPO valuation target by nearly a third to 60 billion dollar to 70 billion dollar. It also plans a U.S. listing in 2023 instead of this year.