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Published
Jun 15, 2021
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ADQ in talks to invest around $400-500 million in e-commerce major Flipkart

Published
Jun 15, 2021

ADQ, formerly known as Abu Dhabi Developmental Holding Company, is in talks with Walmart-owned e-commerce major in India Flipkart to invest $400-500 million (around Rs 3,000 crore to Rs 3,660 crore).
 

ADQ in talks to invest around $400-500 million in e-commerce major Flipkart - Flipkart- Facebook


The transaction could value Flipkart between $35-40 billion and a formal announcement regarding the same could likely be made in the next few weeks, PTI reported citing anonymous sources.
 
“Flipkart could raise about US$3 billion or more as there is significant interest from investors. The e-commerce major is also in discussions with SoftBank Group and some others as investors are keen on tapping into the digital commerce space that has seen significant growth during the pandemic,” the source told PTI.

Flipkart did not respond to queries, while comments could not be immediately elicited from ADQ.
 
Flipkart is also believed to be in talks with Japan's SoftBank Group Corp, Singapore's GIC Pte, and Canada Pension Plan Investment Board to raise at least $3 billion. SoftBank is expected to invest $300 million to $500 million of the total through its Vision Fund II.
 
The fresh capital infusion by a string of investors is expected to help strengthen Flipkart’s fight against its deep-pocketed rivals like Amazon and Mukesh Ambani-owned Reliance’s Jio Mart.

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