I T Dept Issues Notices to Sachin & Binny Bansal over Walmart Deal

Sachin and Binny Bansal are being pursued by income tax officials. Flipkart co-founders are facing I-T scrutiny owing to the Walmart deal that was sealed earlier this year. These I-T notices that were sent last month want Bansals to disclose the total income arising out of their stake sale to Walmart and capital gains received…

ByGirish ShettiNovember 22, 20180Comments

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SoftBank blinks, agrees to sell Flipkart stake: Report

Sources claim SoftBank may sell Flipkart stake. Ending weeks of speculations, SoftBank has finally decided to part away its entire 21% stake in Flipkart to U.S. retail giant Walmart, according to people familiar with the matter. Following the sale out, the Japanese investment giant would be making healthy profit of $4 billion over $2.5 billion investment…

ByGirish ShettiMay 22, 20180Comments

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It’s official: Walmart buys Flipkart in largest ever E-commerce deal

Walmart buys 77% percent stake in Flipkart for $16 billion. Ending months of speculation, Walmart on Wednesday announced that It has picked up 77% percent stake in India’s largest e-commerce company Flipkart for $16 billion (Rs 1.12 lakh crore). This is the largest e-commerce deal anywhere in the world. The deal valued India’s homegrown e-commerce giant…

ByGirish ShettiMay 10, 20180Comments

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Amazon India secures Rs 2600 crore Capital Infusion amid Flipkart-Walmart deal

Amazon India receives Rs 2600 crore capital infusion. Amazon Seller Services, the marketplace unit of the US online retail giant in India, secured huge cash infusion of Rs 26 billion (Rs 2,600 crore) in late last month. This has been disclosed by the documents that Amazon India filed with Registrar of Companies (ROC) last month that…

ByGirish ShettiMay 9, 20180Comments

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Walmart wants Sachin Bansal’s exit from Flipkart: Sources

Sachin Bansal exit from Flipkart. Flipkart’s co-founder Sachin Bansal may have to put down his papers altogether, if Walmart’s impending takeover of Flipkart fructifies in the coming weeks. Sources close to the ongoing mega deal have revealed that the world’s largest retail giant does not want Sachin Bansal to be part of the Flipkart’s 10 member…

ByGirish ShettiMay 4, 20180Comments

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Amazon makes Audacious Bid to buy majority stake in Flipkart: Report

Amazon makes bid to buy 60% stake in Flipkart. Despite the fact that Walmart and Flipkart deal has reportedly entered the final stage of negotiation, Amazon on Wednesday made an audacious bid to acquire 60% stake in India’s home grown e-commerce behemoth. This is according to a report filed by CNBC TV 18, one of India’s…

ByGirish ShettiMay 2, 20180Comments

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Google may end up taking Minority Stake in Flipkart: Report

Google may buy minority stake in Flipkart. Adding a new and unexpected twist to the ongoing Flipkart-Walmart mega deal saga, search engine giant Google may end up taking minority stake in India’s homegrown e-commerce behemoth. Reports circulating in the media are rife about rumors that Walmart has convinced Google’s parent company Alphabet Inc. to pick up…

ByGirish ShettiApril 27, 20180Comments

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Walmart inching closer to buy Controlling Stake in Flipkart: Sources

Walmart may buy controlling stake in Flipkart: Sources In what could cause a huge shakeup in India’s e-commerce sector, U.S. retail giant Walmart has reportedly completed all the due diligence to pick up controlling stake in Flipkart. Sources close to the matter claim that Walmart has already floated a shareholder agreement to pick up 51% stake…

ByGirish ShettiApril 7, 20180Comments

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US Retail Giant Walmart May Buy Minority Stake in Flipkart: Report

US Retail Giant Walmart May Buy Minority Stake in Flipkart. US grocery retail giant Walmart is in final stages of talks to acquire minority stake in the Bengaluru based e-commerce juggernaut Flipkart, according to a report published in The Economic Times. The report citing two close sources claims that Walmart may pick up 15-20% stake in…

ByGirish ShettiJanuary 31, 20180Comments

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