UAE’s ADQ to invest $500 million in Flipkart1 min read . Updated: 13 Jun 2021, 11:46 PM IST
- Flipkart is seeking to raise at least $3 billion and could decide to increase the amount to as much as $3.75 billion, as investors have shown significant interest
- ADQ, formerly Abu Dhabi Development Holding Co., has been a key investor in West Asia since its inception in 2018
Abu Dhabi sovereign fund ADQ is in talks to invest about $500 million in India’s Flipkart, according to people familiar with the matter, as the Walmart Inc.-backed e-commerce firm raises funds ahead of a potential initial public offering next year.
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