Reports indicate that Walmart backed e-tailer Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.
Economic Times reports JPMorgan and Goldman Sachs are advisors in the fundraiser that are exploring options with many sovereign wealth funds, technology-focussed financial groups and even pension funds.
As per available data Walmart invested $1.2 billion in Flipkart in July 2020 at a $24.56 billion valuation, experts see this round of fund raising to value Flipkart at $28-30 billion.