STOCK MARKET BSE NSE

Accel Sells $100 Million Stake in Flipkart

The deal values Flipkart, India\'s biggest online marketplace, at $15 billion, the newspaper reported.

Published: 21st December 2015 09:58 AM  |   Last Updated: 21st December 2015 09:58 AM   |  A+A-

MUMBAI: Venture capital firm Accel Partners has sold a small stake in Indian e-commerce firm Flipkart to sovereign wealth fund Qatar Investment Authority (QIA) for $100 million, the Economic Times reported on Monday, citing two people aware of the transaction.

The deal values Flipkart, India's biggest online marketplace, at $15 billion, the newspaper reported.

Accel, the first venture investor in Flipkart, remains the second-largest shareholder after New York-based hedge fund Tiger Global Management following the deal, the Economic Times reported.

Flipkart, Accel and Qatar Investment Authority did not immediately respond to a Reuters request for comment.

"From time to time, Accel Partners, globally, has sold a small fraction of our holdings in some of our portfolio companies, as secondary transactions," Subrata Mitra, partner at Accel Partners in India told the newspaper in an emailed reply.

"All we can confirm to you right now is that no such transaction is in process."

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp