Tencent picks up 264M stake in Flipkart
Tencent buys 0.72% stake in Flipkart through Binny Bansal
Here are the details
What has happened?
Chinese giant Tencent has picked up 0.72% stake in Flipkart
The stake has been bought through Binny Bansal
Binny Bansal is the co-founder of Flipkart
The deal took place after the July funding
The deal has taken place in Singapore
Tencent has invested a total of $264 million
Walmart still holds majority, controlling stake
Binny Bansal now holds 1.84% stake in Flipkart
Tencent Cloud Europe BV is now a minority shareholder
Revenue: Rs 42,941 crores
Net loss: Rs 2,445 crores
Total expenses: Rs 10,996.3 crores
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