- Walmart Inc WMT owned Indian e-commerce company Flipkart has boosted its IPO valuation to $60 billion - $70 billion from the previous $50 billion, Reuters reported.
- Also, Flipkart has postponed its plans for the U.S. listing to 2023 instead of 2022.
- The report noted that the Indian company has decided to wait for the listing with plans to boost valuations further from two of its newest businesses, online healthcare services, and travel bookings.
- The market uncertainty caused by the Russia-Ukraine crisis has also been a cause for concern.
- Walmart acquired a roughly 77% stake in Flipkart for about $16 billion in 2018.
- Price Action: WMT shares closed higher by 2.32% at $154.99 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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