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Flipkart IPO in 4th Quarter of 2021 at valuation of $35bn?

Flipkart IPO in 4th Quarter of 2021 at valuation of $35bn?

Flipkart, India’s home grown e-commerce giant, which was acquired by Walmart, is planning to come up with an IPO in fourth quarter of this year, according to a Bloomberg report. Flipkart was also exploring listing through a blank check company (SPAC) but it is off the table for the time being.

Flipkart may target a valuation of $35 bn, which will be beneficial for its existing investors as Flipkart unlisted share price may also increase. This will be a first time that a company grown and operating in India will list with such

E Commerce companies’ shares have increased a lot due to the coronavirus crisis as people preferred to order online. Flipkart’s competitor, Amazon share price has also rallied 76% during last one year and is not valued at massive $1.6 trillion.

Flipkart was started in 2007 by Bansal duo and was acquired by Walmart in 2018. This was Walmart’s biggest acquisition and made the founders richer by $1bn. Flipkart also owns Phonepe, a leader in payment space, Myntra,  a leader in fashion space and Flipkart Wholesale, a digital marketplace for SME.

 

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