July 14, 2020 / 11:38 AM / in a month

India's Flipkart raises $1.2 bln in Walmart-led funding

BENGALURU, July 14 (Reuters) - U.S. retail giant Walmart will lead a $1.2 billion investment in its Indian e-commerce unit Flipkart, giving it a valuation of $24.9 billion, Flipkart said on Tuesday.

The investment is led by Walmart, Flipkart's majority owner, along with a group of existing shareholders, the company said. (Reporting by Sachin Ravikumar)

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