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Flipkart plans $1B fundraising ahead of IPO

flipkart funding

E-commerce giant Flipkart is in discussions with a clutch of investors to raise $1 billion, while it considers an initial public offering (IPO) in the USA later this year. 

As per the investor appetite, fundraising could double to up to $2 billion. This round of fundraising is mostly for company expansion, and catalyzing Flipkart valuation before its IPO. This will also allow the Walmart Inc. owned company to compete with its rivals like Reliance Retail and Amazon.com Inc. 

A new and existing clutch of investors has been marked out, these include pension funds, wealth funds, tech-focused financial groups, Private equity funds, long-term passive funds, as well as private equity funds. These include Qatar Investment Authority, GIC of Singapore, CDPQ, CPPIB, and Carlyle. 

Goldman Sachs and JPMorgan are appointed as advisers in the fundraise, which may or may not unfold.

flipkart funding

It is, however, a surprise that Flipkart’s parent company, Walmart is not infusing fresh capital itself, but looking for external funding. In 2018, Walmart had acquired 77% of Flipkart for $16 billion, standing at $21 billion in valuation. At that time, the US retailer had vowed to take Flipkart public in four years. 

Flipkart is expected to be valued at $30 Billion after this round of investment, and $35-40 Billion after the IPO goes public. 

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