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Morgan Stanley Marks Down Flipkart for Fifth Consecutive Time!

by Chinmay Bidkar
March 1, 2017
in News
Reading Time: 1 min read
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Flipkart Faces Yet Another Markdown; T Rowe Price Cuts Valuation by 4%
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01 March 2017, India:

A mutual fund managed by Morgan Stanley has marked down the value of its holding in Flipkart for the fifth consecutive quarter, valuing the e-commerce major at $5.37 billion as per a report.

One of the country’s largest online marketplace Flipkart has seen several markdowns by its investors like Valic Co, Vanguard, Fidelity and T Rowe Price throughout the last year.

Morgan Stanley Institutional Fund Trust has valued each share of Flipkart Online Services at about $50.51 apiece, down from $52.13 a share during the September quarter, as per a regulatory filing with the US Securities and Exchange Commission.

In previous conversations with ET, the company has said that “mark-downs are a theoretical exercise and valuation will be determined when it raises a new round of funding.“ The company also faces an increasingly aggressive Amazon, which has committed $5 billion to its Indian operations to achieve market leadership in the e-tailing market.

Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, and was valued at $15.2 billion in May 2015, is now valued at $5.37 billion.

Also read- Amazon Vs Flipkart And Uber Vs Ola. It’s Not About Capital Dumping – It’s About Good And Bad Investments
Tags: e-commerceflipkartfundingInvestmentMarkdownMorgan Stanleyvaluation
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Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

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