Connect with us

Business

Walmart’s stake in Flipkart surges by 4.3%; E-commerce giants expecting more investments in the coming months

Published

on

Flipkart-Walmart
3 0

Flipkart in recent months has been in the news after Binny Bansal, one of the co-founders, controversially quit the company. However, Walmart managed to seize the opportunity and increased its stake in the Indian E-commerce company by more than 4%. Walmart had acquired Flipkart not a long while ago for a whopping $16 Billion.

Walmart now has 81.3% stake in the company as opposed to 77% when it completed its investment last year. This included an equity infusion of $2 Billion into the venture and this infusion is being touted as the reason behind this 4.3% spike in stake of the American giants.

The other equity holders in Flipkart are: Tencent 5.37 per cent, Tiger Global 4.77 per cent, Binny Bansal 4.2 per cent, Microsoft 1.53 per cent, Accel 1.38 per cent, Iconiq Capital 0.98 per cent, Temasek 0.29 per cent and UBS 0.19 per cent, as per data sourced from data intelligence platform, paper.vc.

Flipkart has paused all its services due to the ongoing pandemic whilst it’s biggest competitor in the country, Amazon, is somehow managing to render some essential services in selected areas. While there isn’t any confirmation as to when services will be normally resumed, Flipkart will definitely come up with its own ways to regain its customers back, some of whom are disappointed because of their stoppage in services.

Walmart keen on bringing in other investors

Not many are sure how the global markets will behave once the pandemic is done, but mostly the situations aren’t going to be great. Walmart is keen on letting other companies invest for a stake in Flipkart in the coming months and it is being rumoured that Google is one of the investors they’re trying to rope in. Some other giants they’re in talks with to raise capital include Intel and existing investor Microsoft.

With Sachin Bansal quitting the organization first, Binny Bansal was the sole foBinny Bansal can remain a director as long he satisfies the ‘minimum ownership threshold’. He can remain a director on the board till he owns at least 3,532,977 ordinary shares in the company. Walmart can replace him with an independent director in case the stake falls below the ownership threshold limit.under of their property as per records.

Publication author

offline 5 months

Anuraag Peesara

12
A philanthropic, self-obsessed individual, sometimes tedious, sometimes edgy, yet the positive vibes keep me alive. Stay calm, be yourself, it's your life, do it your own way, my way is expressing via writing (typing rather).
Comments: 0Publics: 40Registration: 13-04-2020

Trending