Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding
'Women are taking on key roles in warehouses, such as picking and packing, as well as in our last-mile operations across India.'
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
Growth in demand for diesel, India's most consumed petroleum product, fell to its lowest since the pandemic in the financial year ended March 31 as the economy expands at a slower pace and consumption shifts to cleaner fuels. Diesel consumption rose 2 per cent to 91.4 million tonnes in 2024-25 (April 2024 to March 2025) fiscal, according to provisional data released by the Petroleum Planning and Analysis Cell (PPAC) of the Oil Ministry.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
More than 30 technology startups, collectively valued at $100 billion, are poised to go public by 2027, signalling a potential rebound in India's stock market activity, according to a report by investment bank The Rainmaker Group. Walmart-owned Flipkart, financial technology (fintech) leader PhonePe, SoftBank-backed Lenskart, Razorpay, Zetwerk, and Meesho are among the top companies preparing to go public in India.
After raising $2.5 billion from SoftBank's Masayoshi Son and his Vision Fund, Sachin Bansal and Binny Bansal are back in the driving seat at Flipkart, the company they founded over a decade ago.
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
The Bengaluru-based e-tailer has launched an exclusive Handloom Store for saris and related products and is working with small entrepreneurs and weavers to bring them on board.
The order follows a complaint filed by Delhi Vyapar Mahasangh which accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels.
'You think: Did I fail the people I had to let go? Did I promise something I couldn't deliver? That day (when we had to sack 70 people) will stay with me.'
'Indian players in the digital market should not be dominated by global players, and they should not dominate the smaller players -- these discussions are on.'
The Karnataka government is planning to levy a fee of 1-2 per cent on aggregator platforms like Swiggy, Zomato, Flipkart, Amazon, Uber, etc., a government source said on Friday, adding that an announcement in this regard could come following a sub-committee meeting next week. "There is a sub-committee meeting scheduled in the coming week.
In the past eight months, Flipkart has seen the exits of Mukesh Bansal, considered the right hand man of Sachin and Binny Bansal; Ankit Nagori, chief business officer; Punit Soni, Flipkart's million-dollar hire from Silicon Valley who headed product and strategy; and Manish Maheshwari, head of the seller business
From a modest two-bedroom apartment in Koramangala, the Bengaluru-headquarted company now has multiple offices across the country.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
In its highest ever reduction in seller fees, ecommerce giant Amazon India has introduced zero referral charges on over 12 million products on its platform that are priced below Rs 300. The move is aimed at boosting seller growth on Amazon.in and supporting hundreds of thousands small businesses across the country.
The department for promotion of industry and internal trade has rejected Walmart-backed Flipkart's proposal seeking approval for entry to the food retail sector, citing a regulatory issue, an official said on Monday. The government permits 100 per cent foreign direct investment in food retail for food produced and manufactured in India.
'"We want to get the learnings from Flipkart and take it to other parts of the world," Walmart CEO Doug McMillon was quoted as saying.' 'That is a very large tuition fee for an MBA in a country that outdoes Brazil and perhaps even China in busting multinationals' knees and sometimes their heads as they try to crack a market of mostly impoverished people run by a government that has never really given up the sadistic pleasures of administering the license raj,' notes Rahul Jacob.
One of the leading contenders in the Indian e-commerce space, Snapdeal has seen its fortunes falling amid strong competition from Amazon and Flipkart.
After a massive selloff in the shares of food delivery giants Zomato and Swiggy, analysts believe the time may be right for investors to start adding these stocks to their portfolio carts. Their optimism, they say, stems from the sharp correction in stock prices and valuations, which seem to have "over-baked" concerns about the two companies.
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
In a filing with the US Security and Exchange Commission on Friday, Walmart said it would allow the initial public offering of Flipkart in four years at a valuation no less than what it invested in the e-commerce firm, if a grouping of minority shareholders asks for it.
Flipkart Supermart is already live in Bengaluru, Chennai, Hyderabad and Delhi
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
Flipkart has seen 33 per cent growth in past 6 months despite slowing e-commerce business and stiff competition from Amazon.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
Amazon has committed over $5 billion to grow its business in India so far and says it will pump in more capital as and when needed, a big worry for rival Flipkart which has been struggling to raise funds over the past couple of months.
The new deal will value Flipkart at close to $19 billion on the secondary market, a huge jump from Walmart's initial offer to investors.
Zomato is at 5, Swiggy at 9, Blinkit at 10.
Every competitor is eyeing the top slot that Flipkart holds.
He said he will be 'cheering from the outside' and urged Flipkart team to continue with the momentum.
E-commerce firm Amazon India has announced the creation of over 110,000 seasonal job opportunities across its operations network as it prepares to serve millions of customers throughout India during the upcoming festival season. These positions include both direct and indirect roles in cities such as Mumbai, Delhi, Pune, Bengaluru, Hyderabad, Kolkata, Lucknow, and Chennai, among others. Notably, Amazon has hired thousands of women and nearly 1,900 individuals with disabilities into its existing network.
Flipkart on Wednesday said it has acquired mobile marketing start-up Appiterate.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
