New Delhi: Flipkart co-founder Binny Bansal has sold his shares of the e-commerce company (Flipkart) to the global fund Tiger Global for over $ 14 million (up from Rs 100 crore). This information came from a document by a data intelligence platform Paper.vc .
Paper.vc said that the information given by Flipkart to the stock markets indicates that Binny Bansal has sold the shares for the third time after Walmart acquired Flipkart. This time Bansal has transferred his stake to two funds of Tiger Global.
It states that Bansal has acquired the current shareholder Internet Fund lll Pvt. Ltd. sold 47,759 equity shares and Tiger Global et Holdings 54,596 shares. Paper VC said, “We estimate that this sale deal would have been at the lowest level for $ 15.5 million.” This is based on the acquisition price of shares being made by Walmart since 2018. If we include the increase in the capitalization of Flipkart due to the growth of ‘PhonePe’, the deal could go up to $ 25 million.
There is no response from Binny Bansal on this. Bansal sold a small part of his stake in June this year to Walmart’s unit Fit Holdings SARL for about $ 7.64 million. Bansal believed to have sold shares worth $ 159 million during the takeover of Walmart.