Flipkart finally gets a markup by 10% as it battles it out with Amazon to maintain top position

India’s top online marketplace Flipkart finally had some good news to share after US fund Valic marked up the valuation of its Flipkart shares by 10 per cent.

Valic marked up the valuation of its Flipkart shares to $108.04 each for the May-ended quarter.

Earlier, Valic had marked down Flipkart’s shares to $98.19 at the end of February.

After this, Flipkart values around $11.55 billion, compared with $10.5 billion earlier.

Apart from Valic, Fidelity also marked Flipkart up by paltry 3 per cent in valuation of its Flipkart investment.

Flipkart faced markdowns from Morgan Stanley, T Rowe Price and Vanguard.

Flipkart CEO Binny Bansal had said that markdowns were a theoretical exercise by small investors.