Flipkart Co- founder Binny Bansal Sells ₹531 Crore Flipkart Shares To Walmart

The co- founder of India’s leading e-commerce market Flipkart, Binny Bansal sold around 54 lakh of his equity shares worth $76 million (₹531 crore) to the largest e- commerce giant Walmart’s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.

“Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for $76 million through its Luxembourg-based entity FIT Holdings SARL,” said the Chennai-based Paper.vc in an e-mail to IANS.