Open to Flipkart IPO, but no specific timeline yet, says Walmart businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Flipkart is holding talks with investors such as Canada Pension Plan Investment Board (CPPIB), Abu Dhabi s ADQ, and Japan s SoftBank to raise total funding of around $3 billion
The Flipkart IPO, which is likely early next year in the US, may get delayed If the SoftBank capital comes in as part of a larger $2 billion funding round.
Flipkart stares at a dent in valuations as it toys with SPAC route for listing
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Walmart Inc.-owned Flipkart is exploring going public in the US through a merger with a blank-cheque company, according to a Bloomberg report. Flipkart’s advisers have approached several special-purpose acquisition companies, or SPACs, with a view to quickening its listing process. The valuation being sought is at least $35 billion, the report added.
News reports just six months ago had said Flipkart is eyeing an IPO (initial public offering) at a valuation of $45-50 billion. Of course, there is no official word about these valuation numbers but, as it turns out, tech stocks have indeed corrected in the past month.