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India's leading e-tailer Flipkart, co-founder sells part stake to Walmart for 531 crore

"Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for $76 million through its Luxembourg-based entity.

IANS Reported by: IANS Bengaluru Published on: June 24, 2019 9:43 IST
 Flipkart  co-founder sells part stake to Walmart 
Image Source : PTI

 Flipkart  co-founder sells part stake to Walmart 

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

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

ALSO READ: Flipkart's Co-founder Sachin Bansal starts his new innings with this bank

(Except for the headline, IndiaTVnews.com has not edited anything in the story)

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