Bansal now holds about 1.84 per cent in Flipkart after selling part of his stake and the Tencent arm holds 0.72 per stake, valued at around $264 million, a news agency reported. Flipkart is registered in Singapore and has operations in India only.
Walmart led a $1.2-billion round in Flipkart in July 2020, valuing the e-commerce firm at $24.9 billion. In September the same year, Tencent invested $62.8 million in Flipkart, according to a report by business intelligence platform Paper.vc.
Tencent has invested over $2 billion in Indian start-ups since 2016. Last year it also invested over $200 million in the Indian social media platform ShareChat.
ALCHEMPro News Desk (DS)
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