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Walmart to Double up Valuation of Flipkart to US$20 bn

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Published on : Feb 08, 2018

Walmart Inc. is trying aggressively to acquire a large stake in the leading Indian e-commerce retailer, Flipkart. Walmart has offered to double the assessment of the e-retailer to nearly US$20 bn. The world’s largest brick-and-mortar retail company is looking for a route to majority as it begins a new and enhanced online push to compete with Amazon in the U.S. as well as across the world. The ongoing discussion between Walmart and Flipkart involves multiple options, including to procure various early shareholders in the Indian e-tailer, paving the path for a substantial interest, source close to the company revealed.

With a 23.6% stake, SoftBank is the biggest stakeholder in Flipkart at present and is followed by Tiger Global and Naspers, which hold 20.5% and 13% share, respectively. Binny and Sachin Bansal, the founders of Flipkart, hold nearly 10% share in the company. Walmart is expected to spend anywhere between US$5 bn to US$10 bn if the deal gets closed, making it one of the biggest cross-border purchase in India, added sources. Walmart is alleviating its interest in Flipkart nearly eighteen months after the discussion began among the two companies. After the diligence, the offer by the world’s leading retailer involves 1/5th in the primary investment with the rest of the transaction being the secondary share-sale to Walmart by the existing investors. Walmart is looking to start ahead of Amazon, for which India has surfaced as the best market where it can do this.

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