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Benzinga
Benzinga
Business
Shivani Kumaresan

Walmart's Indian E-Commerce Arm Flipkart Boosts IPO Valuation: Reuters

Flipkart Walmart United States WMT NYSE Walmart Inc Russia
  • Walmart Inc (NYSE:WMT) owned Indian e-commerce company Flipkart has boosted its IPO valuation to $60 billion - $70 billion from the previous $50 billion, Reuters reported.
  • Also, Flipkart has postponed its plans for the U.S. listing to 2023 instead of 2022.
  • The report noted that the Indian company has decided to wait for the listing with plans to boost valuations further from two of its newest businesses, online healthcare services, and travel bookings.
  • The market uncertainty caused by the Russia-Ukraine crisis has also been a cause for concern.
  • Walmart acquired a roughly 77% stake in Flipkart for about $16 billion in 2018.
  • Price Action: WMT shares closed higher by 2.32% at $154.99 on Wednesday.
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