Morgan Stanley MF marks down Flipkart's valuation yet again; values it at $5.37 billion
Advertisement
A Morgan Stanley mutual fund marked down Flipkart's valuation and pegged its worth at nearly $5.37 billion. This is the fifth time the mutual fund marked down Flipkart’s valuation.
As per the filing,Morgan Stanley The mutual fund assessed the value of its Flipkart shareholding to be $50.51 apiece as of December, down 3.1% from its September estimate of $52.13 apiece and 64.5% lower from its June 2015 estimate of $142.24 apiece.
It has marked down Flipkart's valuation in September last year by 38.2%. Apart from Morgan Stanley, other mutual fund investors such as T Rowe Price, Fidelity and Valic, too, have marked down Flipkart's worth the past year.
However, Flipkart has always maintained the valuation markdowns are just theoretical exercises and its worth will be decided when it raises new financing.
Flipkart will raise funds and is in talks with US-based online marketplace eBay to raise about $800 million at a valuation of $10-12 billion.
"In March, we will be in an extremely good growth momentum, going back to 40% year-on-year growth and then accelerating over the next year,” Binny Bansal said in an interview to ET in December.
Advertisement
As per the filing,
It has marked down Flipkart's valuation in September last year by 38.2%. Apart from Morgan Stanley, other mutual fund investors such as T Rowe Price, Fidelity and Valic, too, have marked down Flipkart's worth the past year.
However, Flipkart has always maintained the valuation markdowns are just theoretical exercises and its worth will be decided when it raises new financing.
Flipkart will raise funds and is in talks with US-based online marketplace eBay to raise about $800 million at a valuation of $10-12 billion.
Advertisement
Advertisement
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’