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Published
Mar 1, 2017
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Morgan Stanley slashes Flipkart valuation to $5.37bn

Published
Mar 1, 2017

India's largest e-commerce marketplace Flipkart has witnessed another markdown from one of its largest mutual fund investor Morgan Stanley, pegging the valuation of Flipkart at $5.37 billion.



Morgan Stanley slashes Flipkart valuation to $5.37Bn - Flipkart


A mutual fund managed by Morgan Stanley has marked the value of their Flipkart shares at $50.51 per share as of December 2016, down 3.1% from $52.13 per share as of September 2016, and a 64.5% decline from $142.24 per share as of June 2015, filings made by the fund show.

This is the fifth consecutive markdown by Morgan Stanley in India's most valuable startup, albeit a small one as compared to a 38.2% markdown in September 2016.
Flipkart has also witnessed a series of markdowns from other mutual fund investors like T Rowe Price, Fidelity and Valic over the past year.

"(Markdowns are) a theoretical exercise by small investors. From our perspective, valuation is when we raise money. From our perspective, valuation is when we raise money. When we raise money, our value will be clear in the market" Flipkart CEO Binny Bansal had told the Economic Times in an earlier interview.

Flipkart had last raised $700 million from existing investors at a valuation of $15.2 billion in 2015.
 

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