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Market Chatter: Walmart-Owned Indian e-Commerce Giant Flipkart in Talks to Raise at Least $1 Billion Ahead of US IPO

05/11/2021 11:00

02:55 PM EDT, 05/11/2021 (MT Newswires) -- Walmart-owned (WMT) Indian e-commerce giant Flipkart is in early talks with investors to raise at least $1 billion, the Economic Times reported on Tuesday, citing unidentified sources, who also said the fundraising might increase to as much as $2 billion, depending on investor appetite.

The fundraising plans come as Flipkart is exploring an initial public offering in the US around Q4, the Indian business news outlet reported.

The capital raise is not being positioned as pre-IPO but for expansion, The Economic Times reported, citing an unidentified executive, who added that planning for a US public offering is proceeding with a merger with SPAC (special purpose acquisition company) a backup option to secure the listing.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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