The Indian E-commerce giant, Flipkart is day-by-day increasing its reach in the Indian market giving tough competition to Amazon which has occupied the largest share in the Indian market in the E-commerce business. As the Indian market is attracting a lot of investors throughout the globe, it has benefited the Startup sector of India which is rapidly growing, and like this one is Flipkart.
The Indian origin company recently sold its 82% shares to the American multinational retail company Walmart has again received more investment from one of its shareholder ie, the Chinese company Tencent.
Flipkart has emerged as one of the most successful E-commerce companies and has now its services in 200 countries. Earlier Flipkart has raised $1.3 Bn from its parent company Walmart that took Flipkart’s total evaluation to close to $25 Bn and now again its shareholder Tencent has invested $62.8 Mn in Flipkart.
According to the sources the officials at Flipkart mentioned that now this fund will be used to overcome the COVID19 crisis which has caused a lot of difficulties to the company.
Not only Flipkart, but almost all the companies in the world were also badly affected by this COVID19 pandemic. This investment of Tencent will be first monitored by the Inidan government and everything will be checked according to the terms and conditions set by the Indian government regarding fundraising from the neighboring countries of India especially China.
So, this investment will be precisely checked and reviewed by the Indian government and then only Tencent and Flipkart can process with the investment. These were some major investments related news available in the market that we have shared with you. After this investment evaluation the shareholding of Flipkart will look something like this;
Walmart will be holding the 81.87% share of this company which is the highest in this company and thus it is the parent organization of Walmart. Tiger Global holds the 4.84% share of Flipkart making it the third-largest shareholder of this company, after this investment Tencent will hold a 5.34% share in this E-commerce giant making it the second-largest shareholder of this company.
Binny Bansal, co-founder, and ex-CEO but a current shareholder of Flipkart holds a 3.2% share in Flipkart. He was the person who co-founded Flipkart with one of his friends Sachin Bansal who recently sold all his shares in the company to Walmart.
After that QTA holds 1.46% shares, Accel holds 1.31% shares and Microsft holds 1.45% shares in Flipkart. Other than that Lathe and UBS hold 0.53% shares in the company. These are the major shareholders of the Flipkart but the main owner we can say of this company is Walmart which holds the highest shares of the company.
These were some of the details about the tech market of India, we will keep you updated about all the latest happening in the tech market. So, stay tuned, if you want to get regular updates about this Indian tech market as we always update or site regularly so that our reads can get all the useful and major information about the market.