Flipkart’s valuation marked down for the fourth consecutive time, stands at $5.54 billion now
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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.
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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.
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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.
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