A file photo of Flipkart co-founder Binny Bansal. (AFP)
A file photo of Flipkart co-founder Binny Bansal. (AFP)

Binny Bansal sells 531 crore Flipkart shares to Walmart

  • Binny Bansal's equity shares sold $76 million worth of his shares in Flipkart to Walmart's Luxembourg entity FIT Holdings SARL
  • Walmart increased its equity holding in Flipkart by buying 5,39,912 shares

BENGALURU :

Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76 million ( 531 crore) to world's retail giant Walmart's Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.

"Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for $76 million through its Luxembourg-based entity FIT Holdings SARL," said the Chennai-based Paper.vc in an e-mail to IANS.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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