Home Retail Flipkart co-founder sells part stake to Walmart for Rs 531 cr

    Flipkart co-founder sells part stake to Walmart for Rs 531 cr

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    , the Co-founder of India’s leading e-tailer , sold around 54 lakh of his equity shares valued at US $76 million (Rs 531 crore) to world’s retail giant ’s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.

    Flipkart co-founder sells part stake to Walmart for Rs 531 cr

    “Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for US $76 million through its Luxembourg-based entity FIT Holdings SARL,” said the Chennai-based Paper.vc in an e-mail to IANS.