E-commerce retailer Flipkart is planning to raise $500 mn, almost Rs 3,000 crore, from Russian investment firm DST Global, 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.
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 Yuri Milner, DST Global is famous for buying a 1.96 percent stake in Facebook in 2009 valued at $200 million.