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Tag: tiger global

Walmart invests $3.5 billion in Flipkart, ups stake to 80.5%
3Sep By adminNo Comments
Business

Walmart invests $3.5 billion in Flipkart, ups stake to 80.5%

NEW DELHI: Walmart has spent $3.5 billion this year to increase its stake in Indian business Flipkart to 80.5%, underlining the aggressive bets the United States-based retailer is making in the country, which it counts as one of its key markets.In July, some of Flipkart's early investors including Tiger Global, Accel and co-founder Binny Bansal fully exited the company by selling their stakes to Walmart. While Tiger Global held about 4.1%, Accel and Binny Bansal held about 1.1% and 1.8% stake in Flipkart at the time of the transaction, data sourced from market research firm Tracxn showed.Some portions of the amount were also used to settle liabilities with certain PhonePe shareholders, Walmart said in its filing made with the US Securities and Exchange Commission. "During the six months e...
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Titan: Titan buys 27% Caratlane stock for Rs 4.6k crore
20Aug By adminNo Comments
Business

Titan: Titan buys 27% Caratlane stock for Rs 4.6k crore

CHENNAI: In an instance of a large-liquidity event for a startup founder, Chennai-based CaratLane's founder Mithun Sacheti and his family have sold their 27.18% stake in the new-age jewellery startup to Tata Group's Titan for around Rs 4,621 crore in an all-cash deal.The deal values CaratLane at around Rs 17,000 crore, or over $2 billion and on its completion, Titan's stake in the company will go up from 71.09% to 98.28%.CaratLane recorded a turnover of Rs 2,177 crore for FY 2022-23, and the current transaction thus values the company at almost eight times its FY23 revenue. The deal is expected to be concluded on October 31, subject to approvals.The transaction finds a place among the top liquidity events for a startup founder. Flipkart founders selling their stake to Walmart remains one ...
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