Tiger Global has announced to its limited partners that it has realized $3.5bn gains from its phased selloff of Flipkart, an Indian e-tail giant. The gains, the highest the company has from a single company globally, were made in the last few years. Tiger Global invested around $1.2bn in Flipkart in 2009, and it started selling shares to Softbank Vision Fund in 2017. It followed it by selling $2.5bn stake to Walmart, taking the gain up to $1bn. Walmart's stake in Flipkart is about 77% after buying a 4% stake from Tiger Global, which made the highest profit from an Indian online company.
from Gadgets Now https://ift.tt/zCZd1Vn
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