Home Retail Naspers Increases Stake in Flipkart to 17.7%

    Naspers Increases Stake in Flipkart to 17.7%

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    South-Africa based Internet company Naspers has increased its stake in Flipkart to 17.7 percent, as announced in its provisional financial report, according to a leading daily.

    Naspers held a stake of 16.7 percent in Flipkart in May until it further invested Rs 307 crore in the e-retailer. The investment by the South-African Internet major was a part of the Rs 1,260 crore funding raised by Flipkart this year. Russia’s DST Global, Tiger Global and Iconiq Capital led the funding.

    So far, Flipkart has raised funds worth over Rs 4,517 crore. Flipkart recently acquired fashion portal Myntra for around Rs 2,228 crore.

    Napsers invested Rs 813 crore in Flipkart last year when the ecommerce major was valued at Rs 9,636 crore.