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A new investor pool sovereign wealth funds, technology-focused financial groups, pension funds, long-term passive funds and private equity funds including CPPIB, CDPQ and Carlyle have already been sounded out. Though the Flipkart fundraising is predominantly being targeted at new investors, existing ones like GIC of Singapore, Qatar Investment Authority too have been sounded out, one of the sources cited above said.
These discussions are at an early stage and may or may not fructify, the people pointed out.
JPMorgan and Goldman Sachs are advisers in the fundraise.
“The capital raise is not being positioned as pre-IPO but for expansion. The management believes there is a lot of value that is trapped in each of its key verticals and the value of parts is more than the whole, an executive involved in the process said on the condition of anonymity as the talks are private. The price discovery process is still ongoing. Simultaneously,
Flipkart Internet s losses touch Rs 1,950 crore in FY20
Flipkart Internet said its revenue is mainly generated from e-commerce, information technology enabled services, marketplace and related support services
PTI | December 16, 2020 | Updated 12:17 IST
In India, Flipkart is locked in an intense battle with US-based e-tailing giant Amazon with both entities pumping in millions of dollars towards promotions, building infrastructure and logistics as they woo customers to shop online
Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 per cent, as per regulatory documents. The company had registered a consolidated loss after tax of Rs 1,625.7 crore in the previous fiscal, according to Registrar of Companies filing - shared by market intelligence firm Tofler.
Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 percent, as per regulatory documents.
The company had registered a consolidated loss after tax of Rs 1,625.7 crore in the previous fiscal, according to Registrar of Companies filing - shared by market intelligence firm Tofler. Its consolidated net total income was at Rs 6,318.7 crore for 2019-20 as against Rs 4,803 crore in the previous financial year, a growth of 31.5 percent, it added.
On a standalone basis, the total loss widened to Rs 1,936.6 crore in FY20 from Rs 1624.4 crore in the previous year. Its standalone net total income was at Rs 6,317.7 crore as against Rs 4,802.3 crore in the previous fiscal, up 31.5 percent.
Flipkart Internet sees losses widen to Rs 1,950 Cr in FY20
Flipkart Internet said its revenue is mainly generated from ecommerce, information technology-enabled services, marketplace, and related support services.
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Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 percent, as per regulatory documents.
The company had registered a consolidated loss after tax of Rs 1,625.7 crore in the previous fiscal, according to a Registrar of Companies filing shared by market intelligence firm Tofler.
Its consolidated net total income was at Rs 6,318.7 crore for 2019-20 as against Rs 4,803 crore in the previous financial year, a growth of 31.5 percent, it added. Flipkart did not respond to emailed queries.