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Here's Why the Flipkart IPO Is a Brilliant Move for Walmart

Flipkart is planning an initial public offering (IPO) for the fourth quarter this year. According to Bloomberg, the leading Indian e-commerce company, which is 77% owned by Walmart (NYSE:WMT), is seeking a valuation that could top $35 billion. Based on the $16 billion Walmart paid in 2018, which valued Flipkart at $21 billion, that $35 billion price tag would represent a gain of nearly 70% in Flipkart's valuation in just three years.
Read more on: newsbreak.com