Monday, January 30, 2023

Flipkart valuation jumps to 37.6 bn USD with latest fund raise of 3.7 bn USD

New Delhi: Flipkart valuation has jumped to 37.6 bn USD with latest fund raise of 3.7 bn USD.

Sources have confirmed that Flipkart has raised 3.6 billion USD from a battery of investors across the world. This infusion of funds will take Flipkart’s valuation to 37.6 billion USD.

The impressive investor list includes Government of Singapore Investment Corporation (GIC Singapore), Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA), Khazanah Nasional Berhad that is Malaysia’s sovereign wealth fund, and Tiger Global among other hedge funds and investors.

It may be brought to notice that Tiger Global has been invested in Flipkart since 2009, and continues to partake in the organization’s growth.

An investment of this scale is an endorsement of the Walmart-owned, home-grown organization’s capabilities and the promise it holds for the future.

It is worth noting that the organization’s stock will roughly be valued at around 189.1 USD a piece.

Unconfirmed reports are also mentioning a stock buyback program for existing Flipkart employees.

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