Walmart is considering to raise $2-3 billion for its subsidiary Flipkart at a valuation of more than $40 billion to expand in India, said a news report quoting sources.
Unlike the previous round, Walmart may prefer to bring strategic investors into Walmart-Flipkart through this round of fundraising. Walmart-Flipkart, on the other hand, is willing to sell to large pure-play investment firms “Mint was told by one of the two people. Flipkart raised approximately USD 3.6 billion in July of last year. According to the two people cited above, approximately USD 700-800 million of this capital remains, according to Mint.
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