Sun. Jan 16th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Walmart agrees for $10 billion Flipkart IPO

1 min read

Walmart & Flipkart

Walmart Inc. has hired Goldman Sachs to explore an initial share sale of its Flipkart unit in the US to raise around $10 billion, two people directly aware of the development said.

The Bentonville, Arkansas-based Walmart is planning to sell around 25% in India’s largest online retailer, the people said, requesting anonymity.

“Work on the IPO (initial public offering) is on in full swing and the advent of the pandemic has only hastened the process, given the spectacular surge in demand on e-commerce platforms,” said one of the two people cited above.

Online transactions in India have surged after the coronavirus outbreak as people largely stayed indoors and avoided crowded markets and department stores.

The pandemic has pushed millions of new customers from small towns and cities to switch to online platforms, boosting valuations of e-commerce companies. Flipkart, which is based in Bengaluru and registered in Singapore, competes with Amazon.com Inc.’s India unit and Reliance Industries Ltd, which is ramping up its JioMart e-commerce business to challenge its rivals in the online space.

If Flipkart’s IPO plans are successful, it will be the largest by a company based in India on overseas exchanges.

 

 

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.