Tiger Global raises stake in Flipkart; buys shares from Binny Bansal

  • Bansal has transferred part of his holding to two Tiger Global funds
  • This is the third time that Bansal has sold a tranche of his shares since Walmart took over the e-commerce firm

Varsha Bansal
Published2 Sep 2019, 11:41 AM IST
Prior to that, Binny Bansal had sold a block of shares for approximately $159 million.
Prior to that, Binny Bansal had sold a block of shares for approximately $159 million.(Photo: Reuters)

Bengaluru: Flipkart co-founder Binny Bansal has sold $14 million worth of shares in the company to New York hedge fund Tiger Global, according to regulatory filings accessed through data intelligence platform Paper.vc. This is the third time that Bansal has sold a tranche of his shares since Walmart took over the e-commerce firm.

Bansal has transferred part of his holding to two Tiger Global funds – 47,759 equity shares to existing shareholder Internet Fund III Pte Ltd and 54,596 shares to incoming shareholder Tiger Global Eight Holdings.

“Our lower end estimate of the consideration for this sale would be approximately $14.5 million, based on the Walmart acquisition price from 2018,” said Vivek Durai, cofounder of Paper.vc. “If we incorporate a modest increase in Flipkart’s valuation because of the growth of its subsidiary PhonePe, the number could go up to $25 million.”

In June, Bansal liquidated a small portion of his shareholding for a cash consideration of $76.4 million by selling it to FIT Holdings SARL, a Walmart’s Luxembourg entity, the documents show.

Prior to that, he had sold a block of shares (1,122,433) for approximately $159 million.

Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:2 Sep 2019, 11:41 AM IST
Business NewsCompaniesStart-upsTiger Global raises stake in Flipkart; buys shares from Binny Bansal

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    150.90
    03:56 PM | 7 NOV 2024
    -2.7 (-1.76%)

    Bharat Electronics share price

    300.20
    03:58 PM | 7 NOV 2024
    -1.65 (-0.55%)

    Bank Of Baroda share price

    262.90
    03:29 PM | 7 NOV 2024
    0.3 (0.11%)

    Indian Oil Corporation share price

    144.20
    03:59 PM | 7 NOV 2024
    -0.45 (-0.31%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Apollo Hospitals Enterprise share price

    7,424.60
    03:40 PM | 7 NOV 2024
    454.75 (6.52%)

    Welspun Corp share price

    798.00
    03:29 PM | 7 NOV 2024
    24.55 (3.17%)

    City Union Bank share price

    181.50
    03:29 PM | 7 NOV 2024
    2 (1.11%)

    Federal Bank share price

    206.00
    03:57 PM | 7 NOV 2024
    1.2 (0.59%)
    More from 52 Week High

    Hindalco Industries share price

    648.35
    03:51 PM | 7 NOV 2024
    -59.9 (-8.46%)

    Trent share price

    6,498.45
    03:59 PM | 7 NOV 2024
    -454.6 (-6.54%)

    Glenmark Pharmaceuticals share price

    1,658.00
    03:29 PM | 7 NOV 2024
    -110.95 (-6.27%)

    Blue Star share price

    1,776.95
    03:56 PM | 7 NOV 2024
    -101.8 (-5.42%)
    More from Top Losers

    Swan Energy share price

    535.60
    03:29 PM | 7 NOV 2024
    39.05 (7.86%)

    KEC International share price

    1,050.30
    03:40 PM | 7 NOV 2024
    74.8 (7.67%)

    Apollo Hospitals Enterprise share price

    7,424.60
    03:40 PM | 7 NOV 2024
    454.75 (6.52%)

    FSN E-Commerce Ventures share price

    192.90
    03:29 PM | 7 NOV 2024
    11.45 (6.31%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      78,575.00-1,790.00
      Chennai
      78,581.00-1,790.00
      Delhi
      78,733.00-1,790.00
      Kolkata
      78,585.00-1,790.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.92/L0.00
      Chennai
      100.80/L0.00
      Kolkata
      104.95/L0.00
      New Delhi
      94.77/L0.00

      Popular in Companies

        HomeMarketsloanPremiumMint Shorts