Flipkart’s valuation marked down for the fourth consecutive time, stands at $5.54 billion now
Advertisement
India’s largest e-commerce marketplace Flipkart ’s valuation was yet again marked down by a mutual fund managed by Morgan Stanley .
It reduced value of its Flipkart shares by another 38.2%, pegging the valuation $5.54 billion now.
Morgan Stanley has marked the value of their Flipkart shares at $52.13 per share as of September 2016 and this is the fourth consecutive markdown by Morgan Stanley.
It is one of the bigger mutual fund investors in India's most valuable startup.
Flipkart has also faced a string of markdowns from T Rowe Price, Fidelity and Valic over the past year.
"(Markdowns are) a theoretical exercise by small investors. From our perspective, valuation is when we raise money. From our perspective, valuation is when we raise money. When we raise money, our value will be clear in the market," Flipkart CEO Binny Bansal had told ET in an earlier interview.
This news comes at a time when Flipkart is going aggressive against Amazon India. Flipkart is also in talks with Walmart for an investment of upto $1 billion.
Advertisement
It reduced value of its Flipkart shares by another 38.2%, pegging the valuation $5.54 billion now.
Morgan Stanley has marked the value of their Flipkart shares at $52.13 per share as of September 2016 and this is the fourth consecutive markdown by Morgan Stanley.
It is one of the bigger mutual fund investors in India's most valuable startup.
Flipkart has also faced a string of markdowns from T Rowe Price, Fidelity and Valic over the past year.
Advertisement
This news comes at a time when Flipkart is going aggressive against Amazon India. Flipkart is also in talks with Walmart for an investment of upto $1 billion.
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market