27 May 2017, India:
It seems like everything is going Flipkart‘s way. India’s leading e-commerce marketplace recently raised $1.4 Billion from Tencent, eBay and Microsoft, It acquired eBay India and has almost sealed the deal with Snapdeal, now finally Morgan Stanley has increased the valuation of the company by 28%.
Morgan Stanley Institutional Fund valued its shares in Flipkart at $70.7 apiece as of March, a 28 percent jump over December, according to its filing to the U.S. Securities and Exchange Commission (SEC) and reviewed by BloombergQuint. That takes the homegrown e-tailer’s valuation to $6.91 billion, still 40 percent lower than $11.6 billion at which it raised $1.4 billion from Tencent Holdings Ltd., eBay Inc. and Microsoft Corp last month as per the report by Bloomberg Quint.
A mutual fund managed by Morgan Stanley has marked down the value of its holding in Flipkart for the fifth consecutive quarter, previously valuing the e-commerce major at $5.37 billion. (Image- maeeshat.in)
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