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Flipkart valuation down by over ₹41,000 crore since 2022

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Flipkart, the Indian e-commerce company owned by Walmart, has seen its valuation drop by $5 billion since January 2022. This comes as Flipkart's fintech subsidiary PhonePe becomes an independent entity. Walmart's equity transactions highlight the changes, with the company diluting 8% of its equity in Flipkart and then increasing its stake by 10%. Flipkart disputes the reported valuation decrease, stating that it was an appropriate adjustment after PhonePe's separation. Meanwhile, Flipkart insiders note significant growth in Gross Merchandise Value (GMV) in 2023, potentially impacting the company's valuation positively. In FY23, Flipkart reported a net loss of ₹4,846 crore.

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