• Walmart-owned Flipkart, the Indian e-commerce giant, is reportedly eyeing a 2021 overseas listing and hoping for a $50 billion valuation

    10 days ago - By Business Insider

    The logo of Flipkart is seen on the company's office in Bengaluru
    Thomson Reuters
    E-commerce firm Flipkart is preparing for an an initial public offering overseas - and is hoping for a valuation of up to $50 billion, sources told Reuters.
    Walmart bought a roughly 77% stake in Flipkart for about $16 billion back in 2018. This remains the single-largest foreign direct investment in an Indian company.
    At the $50 billion valuation that sources say Flipkart is hoping for, Walmart would more than double its investment.
    India's e-commerce sector is booming. Flipkart competes with Amazon India and...
    Read more ...