Flipkart Raised Rs 26,800 Crore, Company Is Preparing For IPO
Flipkart raised Rs 26,800 crore, the company is preparing for IPO, the valuation of the company has become so much before the IPO.
American retailing giant Walmart-controlled Flipkart has raised $ 3.6 billion (about Rs 26,806 crore).
The money has been raised from Walmart, SoftBank, GIC Pte of Singapore, and several other government wealth and pension funds.
After this, the value of the company has gone up to $ 37.6 billion (about Rs 2,78,200 crore). When the company raised $1.2 billion from Walmart last year, it was valued at about $25 billion.
In this sense, the value of the company has increased by about 50 percent in about a year.
These companies have invested.
In a statement, Flipkart said Tencent Holdings Limited, Blackstone Group-backed Antara Capital, Abu Dhabi-based sovereign wealth fund ADQ.
Qatar Investment Authority and Canada Pension Plan Investment Board (CPP Investments) have invested in the company.
The company is preparing for IPO.
This latest investment in Flipkart, which is in the process of launching an IPO, will help the company compete with Amazon Inc., Mukesh Ambani-controlled JioMart, and the Tata Group.
Meanwhile, according to sources, the company will also buy back shares worth about Rs 600 crore out of the shares allotted to its employees under the employee stock option.
Kalyan Krishnamurthy, Chief Executive Officer (CEO), Flipkart Group, said, “This recent investment by leading global investors is in line with the promise of digital commerce in India and reflects the belief of all stakeholders that Flipkart has the potential to be a big deal.
Underlines ability. The way we serve our consumers, our emphasis will be to give impetus to lakhs of small and medium industries including grocery.
He added that Flipkart will continue to use Made-in-India technology to invest in new categories and transform consumer experience and develop world-class supply chains.
