Tiger Global sells its remaining stake in Flipkart to Walmart with a profit of $3.5B

Retail giant Walmart, which acquired Flipkart's 77% stake in 2018, has acquired the remaining stake worth $1.4 billion from US-based Tiger Global.

With this, Tiger Global, one of the company's earliest investors, has taken a complete exit with a massive profit of $3.5 billion on an investment of $1.2 billion.

The company confirmed the development. However, It didn't provide the financial details of the deal. A report from WSJ said that the current deal would value Flipkart at $35 billion, which is a dip from $38 billion at the time it had sold stakes to SoftBank, Walmart and other investors in 2021.

Walmart acquired a majority stake of 77% in Flipkart for about $16 billion in 2018. It had said later that year that it could take the company public in four years. However, Walmart's spokesperson said that the IPO of Flipkart is its "long-term ambition". " will come at the right time," a spokesperson said. "We remain confident in the future of Flipkart and are...more positive about the opportunity in India today than when we first invested," the spokesperson added.

Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal; Tiger Global first invested in 2007, and between 2010 and 2015, It invested nearly $1.2 billion.

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