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Walmart plans to raise $3 billion for Flipkart at a valuation of $40 billion

According to a news story citing sources, Walmart is thinking of raising $2 to $3 billion for its subsidiary Flipkart at a valuation of more than $40 billion to expand in India.

One of the two persons said to Mint, “Unlike the previous round of fundraising, Walmart may choose to bring strategic investors into Walmart-Flipkart, whereas Walmart-Flipkart is willing to sell to huge pure-play investment groups. In July of last year, Flipkart raised around USD 3.6 billion. About USD 700-800 million of this capital, according to the two individuals described above, is still available, according to Mint.

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