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Walmart seeks to raise up to $3.74 billion in sale of JD. com stake: report

Economic Times

Economic Times · 11m ago

Walmart seeks to raise up to $3.74 billion in sale of JD. com stake: report

Walmart is looking to sell its stake in Chinese e-commerce company JD.com for up to $3.74 billion. The US retailer is offering 144.5 million shares in the price range of $24.85 to $25.85. Morgan Stanley is the broker-dealer of the offering. Walmart currently owns a 5.19% stake in JD.com, making it the largest shareholder. The partnership between the two companies began in 2016 when Walmart sold its Chinese online grocery store and received a 5% stake in JD.com in return.

Related News

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

Livemint

Livemint · 10m ago

Adani Enterprises’ $1.3 billion stake sale expected to start early next week: Report | Mint

- Adani Enterprises is planning to launch a share sale as early as next week, aiming to raise about $1.3 billion through a qualified institutional placement. - The share sale will mark Adani Enterprises' return to public equity markets following a scathing short-seller report in 2023. - The company received board approval in May to raise up to $2 billion through various methods, including a share sale to institutions. - Adani Enterprises' successful share sale will serve as a vote of investor confidence for the conglomerate. - ICICI Securities, Jefferies Financial Group, and SBI Capital Markets are assisting Adani Enterprises with the share sale. - Adani Enterprises' shares have risen 12% this year, but are still about 7% below pre-short-seller report levels.

Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

Economic Times

Economic Times · 1m ago

Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

PhonePe, a Walmart-backed Indian fintech company, plans to raise up to $1.5 billion through its initial public offering (IPO), potentially valuing the company at nearly $15 billion, according to a Bloomberg report. The firm intends to submit draft papers by August. PhonePe is widely used in India for making payments via the Unified Payments Interface (UPI) and boasts over 600 million registered users and 310 million daily transactions.

Decoding Flipkart’s $600 Mn round, captable and valuation

Entrackr

Entrackr · 1y ago

Decoding Flipkart’s $600 Mn round, captable and valuation

E-commerce giant Flipkart has raised $600 million from its holding company Walmart through the investment arm FIT HOLDINGS SARL. Walmart spearheaded the round with $598.7 million, increasing its stake in Flipkart to 84.6%. The funds will be used to expand operations and strengthen supply chain and tech capabilities. The company is expected to raise a total of $1 billion, with $400 million coming from existing and new investors. Flipkart's valuation stands at $32.55 billion post-allotment.

Dubai Holding aims to raise up to $487 mn from IPO of residential REIT

VCCircle

VCCircle · 2m ago

Dubai Holding aims to raise up to $487 mn from IPO of residential REIT

Dubai Holding, owned by the emirate's ruler, seeks to raise up to $487 million through the IPO of its residential REIT, Dubai Residential REIT. This marks the first major UAE IPO since December. Offering a 12.5% stake, the REIT is valued at up to $3.9 billion, with dividends anticipated in 2025. Despite regional market volatility, Dubai's post-pandemic property boom, driven by foreign investments and regulatory reforms, sets a promising backdrop for this launch.

Walmart buys out $1.4 billion stake in Flipkart from Tiger Global

Reuters

Reuters · 2y ago

Walmart buys out $1.4 billion stake in Flipkart from Tiger Global

Walmart has acquired Tiger Global's stake in Flipkart for $1.4 billion, leading to a valuation of $35 billion for the Indian e-commerce company. Previously valued at nearly $38 billion in 2021, Flipkart's valuation was adjusted internally after its separation from PhonePe. In 2018, Walmart had purchased a 77% stake in Flipkart for $16 billion.

Adani family plans to raise $3.6 bn via promoter share sales

Livemint

Livemint · 11m ago

Adani family plans to raise $3.6 bn via promoter share sales

The Adani family, owners of businesses ranging from airports to edible oil, is expected to raise up to $3.6 billion by selling part of its promoter holdings in Adani group companies over the next 12-18 months. This comes as a strategy to rebalance their wealth portfolio due to the sharp increase in Adani Group firm's share prices in the past year. The family's share-sale plan includes a 0.5-3% monetization of promoter stake, beginning with the sale of a stake worth ₹3,000-4,000 crore in Ambuja Cements Ltd. Other unlisted businesses may also see stake sales.

Sequoia-backed Prataap Snacks on the block; Varde may back GMR

VCCircle

VCCircle · 1y ago

Sequoia-backed Prataap Snacks on the block; Varde may back GMR

Prataap Snacks, the maker of Yellow Diamond Chips, is reportedly in discussions to sell a controlling stake, with Sequoia Capital leading the transaction. The founders, Mehta and Kumat families, may also be involved in the stake sale. Meanwhile, Varde Partners is considering investing in GMR Airports' upcoming bond sale. Fintech unicorn Slice is seeking $100 million in equity funding for the merged entity with North East Small Finance Bank. However, an investment deal between Walmart-backed PhonePe and Dunzo's merchant network business did not progress due to concerns about majority ownership by Walmart.

In TikTok sale, the White House is playing an unprecedented role

Economic Times

Economic Times · 4m ago

In TikTok sale, the White House is playing an unprecedented role

The White House is unusually involved in the TikTok sale, acting like an investment bank with Vice President JD Vance leading the auction, complicating the deal. Among bidders are prominent investors and entrepreneurs, with the sales process being atypical due to undefined assets and valuation. TikTok’s Chinese owner, ByteDance, has a limited involvement while potential buyers face an April 5 deadline. The algorithm’s inclusion could determine TikTok’s final sale price, estimated between $50 billion and $100 billion.

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Inc42 · 1y ago

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Amazon India's marketplace business, Amazon Seller Services, has received INR 830 crore ($111 million) from its US parent company. Flipkart's marketplace arm, Flipkart Internet, has also received a cash infusion of around INR 924 crore ($111 million) from its related entities in Singapore. These capital injections come as Flipkart is reportedly seeking to raise $1 billion in funding, with $600 million committed by Walmart. Flipkart's Big Billion Days sale event in October 2023 saw a record-breaking 1.4 billion customers visit. Meanwhile, Amazon Seller Services has received INR 830 crore from its US parent.

Flipkart Internet receives $111 million in new fund infusion

Economic Times

Economic Times · 1y ago

Flipkart Internet receives $111 million in new fund infusion

Flipkart Internet, the marketplace arm of Flipkart backed by Walmart, received a cash injection of approximately INR 924 crore ($111 million) from its Singapore-based entities in January 2023. This comes as Amazon continues to invest in its Indian entities, crossing INR 1,000 crore ($134 million) this year. Flipkart is also in talks to raise up to $1 billion, with parent company Walmart committing to invest $600 million. Flipkart's valuation is expected to be around 5-10% higher than its previous valuation of $33 billion. In the fiscal year 2023, Flipkart Internet reported a 42% increase in operating revenue and a 9% decrease in total loss.

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