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  Business   Companies  24 Jun 2019  Wallmart buys Rs 531 crore Flipkart shares from Binny Bansal

Wallmart buys Rs 531 crore Flipkart shares from Binny Bansal

THE ASIAN AGE
Published : Jun 24, 2019, 3:39 pm IST
Updated : Jun 24, 2019, 4:34 pm IST

Binny Bansal sold about 54 lakh of equity shares worth Rs 531 crore to Walmart.

Flipkart CEO Binny Bansal.
 Flipkart CEO Binny Bansal.

New Delhi: Flipkart co-founder, Binny Bansal, on Monday sold about 54 lakh of equity shares worth Rs 531 crore to the Walmart’s Luxembourg entity FIT Holdings SARL, as reported by IANS.

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

Tags: flipkart, walmart, shares, binny bansal
Location: India, Delhi, New Delhi