Chinese technology conglomerate Tencent has bought stake worth USD 264 million (about Rs 2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents. Singapore-headquartered e-commerce firm Flipkart has operations in India only. Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around USD 264 million, as per last valuation of USD 37.6 billion disclosed by the e-commerce firm in July 2021. The company’s valuation surged to USD 37.6 billion after raising USD 3.6 billion (about ₹26,805.6 crore) in funding round led by Singapore’s sovereign wealth fund GIC, CPP Investments, SoftBank Vision Fund 2 and Walmart.
Important takeaways for all competitive exams:
Bali is home to a rich cultural heritage that blends Hindu philosophy, local animist traditions,…
India's states are known for their unique identities based on culture, geography, or contributions to…
On November 22, 2024, the Asia Index Private Ltd, a subsidiary of the Bombay Stock…
India's foreign exchange reserves suffered their largest weekly drop on record, falling by $17.76 billion…
The Union Minister for Education, Dharmendra Pradhan, along with Minister of Labour and Employment, Youth…
On 22nd November evening, Jay Shah, the ICC president-elect and current chief of the BCCI…