Flipkart Plans To Raise Rs 10 Billion From IPO

Walmart is intending to sell around 25 per cent in India's biggest online retailer, according to the news reports.

Walmart Inc has roped in Goldman Sachs to look into an underlying offer of its Flipkart unit in the US to raise around $10 billion.

Online transactions in India have reached an all-time high due to the pandemic, pushing a large number of individuals to remain indoors and acquiring new clients from modest communities and urban areas to adapt to online stages, boosting valuations for all e-commerce organizations. 

What began in 2007 by generally selling books, has now ventured into different portions, for example electronic, design, home fundamentals, staple goods and clothing.

On the off chance that Flipkart's IPO plans are effective, it will be the largest by an organization situated in India on abroad trades. Flipkart's valuation will likewise be more than twofold to $40 billion since Walmart's obtaining of the internet business goliath. 

In September, Reuters had revealed that Flipkart will go public by 2021. The US retailer had promised to take Flipkart public in four years after it purchased a 77% stake for $16 billion out of 2018. 

In July, Flipkart brought $1.2 billion up in a funding round with Walmart as the lead financial specialist, esteeming the organization at $24.9 billion. 

Situated in Bengaluru and enrolled in Singapore, Flipkart contends with Amazon.com Inc's. India unit and Reliance Industries Ltd, which is sloping up its JioMart web based business to challenge its opponents in the online space.