Walmart has finally taken over Flipkart as its largest investor. Earlier on the day, the US retailer giant has reached in on an agreement with Flipkart for buying the latter’s 75 percent stake for an approximate value of $15. That said, Flipkart’s valuation has rose to $20 Billion – evidently higher than its $12 Billion valuation last year. Following which Flipkart’s deal with Walmart, SoftBank Group is all set to exit from India’s most valued startup. SoftBank would sell its entire 20 percent share in Flipkart for an amount of $4 Billion. It has to be said that the investment value of SoftBank in Flipkart stands at $2.5 Billion.
With Walmart entering the Indian e – commerce field, the stage is set for a battle between two US giants in the Indian market – Walmart and Amazon. Amazon is aggressively expanding its presence in the Indian markets, and has recently committed pumping $5.5 Billion towards the Indian operations.
