Flipkart valuation declines over rRs.r41,000 crore in two years: Major reasons why
India, March 18 -- Flipkart's valuation has declined by $5 billion or around Rs.41,000 crore as of January 2024 compared to January 2022, as per equity transactions carried out by its US-based parent firm Walmart. The valuation declined to USD 35 billion as of January 31, 2024 from USD 40 billion in the financial year ended on January 31, 2022. Walmart attributed the decline to the demerger of fintech firm PhonePe into a separate company and said, "During fiscal 2024, the company paid USD 3.5 billion to acquire shares from certain Flipkart noncontrolling interest holders and settle the liability to former noncontrolling interest holders of PhonePe. The company's ownership of Flipkart increased from approximately 75 per cent as of January ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.