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:
The island of Ross Island in the Andaman and Nicobar Islands which holds much importance…
In the State of Maharashtra there are many traditional products, agriculture produce, textiles, handicrafts, and…
NH-22 Four-Laning Project in Bihar is sanctioned by the Cabinet Committee on Economic Affairs under…
World Mosquito Day 2026 is celebrated on August 20 to bring attention to the dangers…
Recently, the US government has slapped sanctions on the President of the International Criminal Court…
Subroto Cup International Football Tournament 2026 began in the National Capital , New Delhi from…