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(Reuters) - Walmart Inc-owned Indian e-commerce firm Flipkart is
in talks to raise at least $3 billion from investors including
Japan's SoftBank Group Corp and several sovereign wealth funds,
Bloomberg News reported
https://www.bloomberg.com/news/
articles/2021-06-07/flipkart-is-said-in-talks-for-3-billion-from-softbank-others?utm_campaign=socialflow-organic&cmpid=socialflow-twitter-business&utm_source=twitter&utm_
medium=social&utm_content=
business&sref=ZoyErlU1 on Monday.
The startup is aiming for a valuation of about $40 billion and
is in talks with Singapore's GIC Pte., Canada Pension Plan
Investment Board and the Abu Dhabi Investment Authority, the
report said, citing people familiar with the matter.
SoftBank could invest $300 million to $500 million of the total
through its Vision Fund II, according to the report.
Flipkart, SoftBank and the Abu Dhabi Investment Authority did
not immediately respond to Reuters requests for comment.
SoftBank sold https://www.reuters.com/article/us-flipkart-m-a-walmart-softbank-group-idUSKCN1IO09B
its roughly 20% stake in the e-commerce firm to Walmart in 2018.
The Indian company is in the early stages of exploring going
public in the United States through a deal with a blank-check
firm, sources familiar with the matter told Reuters in March.
Reuters exclusively reported in September that Bengaluru-based
Flipkart was preparing to go public overseas as early as 2021,
which could value the firm at as much as $50 billion.
(Reporting by Shivani Singh in Bengaluru; Editing by Aditya Soni)
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