Home Retail Flipkart Plans to Raise $500 mn from DST Global

    Flipkart Plans to Raise $500 mn from DST Global

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    E-commerce retailer is planning to raise $500 mn, almost Rs 3,000 crore, from Russian investment firm , according to a leading daily. The report mentions that apart from DST, other players like General Atlantic and Fidelity are also in talks with .

    Flipkart looking to take decisive lead in Indian market; considers 2017 to be defining year
    Earlier this week, in a major restructuring, Flipkart brought all its units under an umbrella firm and elevated Binny Bansal as the Group Chief Executive Officer

    In the next 12-18 months, the Bangalore-based e-retailer also plans to invest over $100 mn for expanding its fashion category, says the report. Flipkart had raised over Rs 2,100 crore in two tranches last year at a valuation of over Rs 9,300 crore.

    Founded by , DST Global is famous for buying a 1.96 percent stake in Facebook in 2009 valued at $200 million.