After KKR invested in RIL, now, Walmart invests $560 million in Flipkart. According to Entrackr, Walmart has been allotted 39,57,960 equity shares in Flipkart’s Singapore Unit.
In the month of July, Walmart announced it will invest $1.2 billion in Flipkart in two tranches. In lieu of which, Walmart invests in Flipkart the first tranche of the investment. The investment is said to be done in this fiscal year itself.
On the other hand, Qatar Investment Authority or QIA’s subsidiary INQ Holdings also invested $8.14 million. Before these investments came up, Tencent also invested $62.8 in Flipkart. After all these investments, Walmart stakes raised up to 82.3%, QIA controls 1.45% and Tencent owns 5.21%. Tiger Global also had invested $1 billion in the company before all these companies.
Stakeholders of Flipkart:
Flipkart has a shareholding of:
Walmart- 82.3%
Tiger Global- 4.72%
Binny Bansal- 3.15%
QI- 1.45%
Accel- 1.28%
Others- 0.48%
Microsoft- 1.41%
Tencent- 5.21%
This tranche may be the last private funding of the giant, as per sources. The company is to invest in its new B2B play.
to know more about the investment, check the link below:
Flipkart raises investment of $560 million through Walmart.
About Walmart:
American international retail corporation, Walmart, operates a chain of departmental stores, hypermarkets and grocery stores all over the world. Founded in 1962, the name of its founder is Sam Walton. Furthermore, Walmart has 11,496 stores and clubs in 27 countries, operating under 56 different names.
Currently, Greg Penner acts as the chairman of the company and Doug McMillon as President and CEO. It deals in electronics, home and furniture, clothing, furniture, craft supply, toys, jewellery, health and beauty etc. In the Financial Year, 2020, it earned a total revenue of $523.964 billion. Furthermore, Walmart also engages in Charity work. In addition to this, Walmart has branches in Central America, India, Chile, United Kingdom, Mexico, Argentina, Canada, China, Japan, etc.
In conclusion, Walmart serves all over the world.
