Flipkart’s Investors Accel and Tiger Global reportedly considering $1.5 billion stake sale to Walmart
- ByStartupStory | January 27, 2023
Accel and Tiger Global, two major investors in Flipkart, are considering selling their remaining 5% stake in the Indian e-commerce company to its parent company, Walmart, for a reported $1.5 billion. This would increase Walmart’s ownership in Flipkart.
An internal source revealed “They (Accel and Tiger) want to sell and exit now fully. The discussions are moving ahead and the transaction will close in due time”
The company report stated that Accel owns a little over 1% in Flipkart while Tiger Global holds about 4% in the company.
Walmart’s potential acquisition of a 5% stake in Flipkart from early investors Accel and Tiger Global for $1.5 billion could raise the retail giant’s ownership in the Indian e-commerce company. The companies and investors did not immediately comment on the reports. Walmart had previously acquired a majority stake in Flipkart for $16 billion in 2018, with plans to take the company public in four years.
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