Flipkart, an e-commerce company owned by Walmart, is in initial talks with investors to raise one billion dollars. Flipkart is raising this fund at a time when it is already preparing to launch its IPO in the US. & nbsp; In the last quarter of this year, Flipkart will raise one billion dollars by launching its IPO in New York.
Amazon, preparing to compete with Reliance Retail & nbsp;
In the Indian market, Flipkart is raising funds to compete with competitors like Jio Retail of Amazon, Reliance. Last year, Flipkart raised $ 1.2 billion. Walmart had the highest fund in this. According to the news of Economic Times, this time many investors can join it. These include the Sovereign Wealth Fund and & nbsp; Technology Focused Financial Group, Pension Fund and Private Equity Fund. This includes groups such as CPPIB, CDPQ and Carlyle. According to sources, there are groups such as Singapore’s GIC and Qatar Investment Authority. JPMorgan and Goldman Sash will act as advisors in this fund raising process. & Nbsp;
77.8 percent of Walmart in Flipkart & nbsp;
Walmart has 77.8 percent in Flipkart. Tencent has 1.5 QIAs of 1.5, Tiger Global’s 4.5, Binny Bansal’s 3.3 esop pool 5.1 and others hold 2.8 per cent. The company offers 1.5 crore products in more than 80 categories. The company’s registered customer base is 300 million customers. It is the top e-commerce company in the category like Apparel. Currently, the company’s focus in India is on increasing smartphone sales. & Nbsp;