IPO Flipkart NYSE:? Indyjski potentat e-commerce

[slayer74]

wykres
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IPO Flipkart NYSE:? Indyjski potentat e-commerce. Większościowym udziałowcem przed IPO jest Walmart - posiada 82% akcji

https://en.wikipedia.org/wiki/Flipkart
https://www.flipkart.com

[slayer74]

IPO

Źródło: Puls Biznesu
Treść chroniona prawem autorskim. Całość przeczytasz tu: https://www.pb.pl/flipkart-planuje-wejs ... de-1110166

Flipkart planuje wejście na amerykańską giełdę

TADEUSZ STASIUK opublikowano: 04-03-2021, 16:58
Indyjski potentat handlu detalicznego, koncern Flipkart zamierza wprowadzić swoje akcje do obrotu na amerykańskiej giełdzie. Należąca do Walmartu firma chce powołać do tego celu spółkę celową

[slayer74]

Why Walmart Is Considering a SPAC IPO for Flipkart
Paul Ausick
March 4, 2021 9:59 am
Just over a week ago, electric vehicle maker Lucid Motors agreed to go public in a reverse merger with a special-purpose acquisition company (SPAC) in a deal that set a pro forma value on a company that has not yet built a single car at around $24 billion, the richest
SPAC deal ever.

Now, Walmart Inc. (NYSE: WMT) reportedly is considering a SPAC offering for its Flipkart subsidiary based in Bengaluru, India, that would value the e-commerce retailer at more than $35 billion.

Citing people familiar with the matter, Bloomberg News reported Thursday morning that Flipkart has been considering a U.S. initial public offering (IPO) and also has begun to explore different ways of listing shares publicly. Blank-check companies like Churchill Capital, the platform from the Lucid Motors deal, that put together deals for guaranteed cash proceeds have become very popular with both U.S. startups and investors.

The main advantage to Walmart, which acquired 77% of Flipkart in 2018 for $16 billion, is that a SPAC deal can happen more quickly than a standard IPO or even a direct listing.

Would that be the best deal for Walmart shareholders? SPAC IPOs are generally tilted to favor the fund’s managers and early investors. In order for Walmart shareholders to get the most out of a SPAC merger, the company may have to launch its own SPAC and then use the funds raised in the fund’s own IPO to launch a deal for Flipkart.

Walmart reported cash on hand at the end of January totaling $17.7 billion, compared with some $41 billion in long-term debt. The retail giant also has high-grade credit ratings of Aa2 from Moody’s and AA from Fitch Ratings and could easily and cheaply finance a SPAC with the goal of launching Flipkart’s U.S. listing.

The possibility that Walmart and Flipkart will choose the SPAC route to a U.S. IPO seems remote but is probably not zero. A conventional IPO, though it would take longer, is more likely to provide the most value for existing Walmart shareholders. And Walmart’s not in any particular rush either.

Early Thursday, Walmart shares traded up fractionally, at $128.56 in a 52-week range of $102.00 to $153.66. The consensus price target on the stock is $159.84.

https://247wallst.com/retail/2021/03/04 ... -flipkart/

[slayer74]

Flipkart is said to aim for IPO in fourth quarter of 2021

https://economictimes.indiatimes.com/te ... 937510.cms

[slayer74]

Indyjski sprzedawca internetowy zakończył kolejną rundę finansowania, która wyceniła go na ok. 37,6 mld USD. Swój udział zwiększył również największy akcjonariusz - Walmart.

Jak ustalił Bloomberg, wśród inwestorów są m.in. SoftBank, Antara Capital oraz sześć państwowych funduszy inwestycyjnych i emerytalnych z różnych krajów.

https://www.pb.pl/flipkart-zakonczyl-no ... ia-1121860

[slayer74]

Walmart's Hot E-Commerce Unit Surges In Value Ahead Of IPO

Walmart (WMT)-owned Flipkart soared in value to nearly $38 billion after its latest fundraising round, as the Indian e-commerce startup looks to IPO. Walmart stock fell.

Flipkart said Monday it has raised $3.6 billion in new funds from a group of investors including Walmart and Japan's Softbank.

The deal values Flipkart at $37.6 billion, it said. An earlier funding round roughly a year ago valued Flipkart, which was founded in October 2007, at $24.9 billion.

In March, the Amazon (AMZN) rival in India was said to be seeking a $35 billion valuation while looking to list in the U.S. via a blank-check merger or initial public offering.

"This investment reflects global investor confidence in digital commerce in India, which has continued to accelerate over the last year" amid the coronavirus pandemic, Flipkart said in a statement.
...
https://www.investors.com/news/walmart- ... ad-of-ipo/

[slayer74]

Walmart's Flipkart says Indian probe shouldn't treat it the same as Amazon

NEW DELHI (Reuters) -Walmart's Flipkart should not be treated the same as rival Amazon (NASDAQ:AMZN) in an Indian antitrust probe as the evidence against the two firms was "qualitatively different", Flipkart argued in a court filing seen by Reuters.

Both Amazon and Flipkart have challenged the Competition Commission of India (CCI) in court as they seek revocation of an Indian court's June decision to allow https://www.reuters.com/world/india/ind ... 2021-06-11 an antitrust probe against them to continue. The companies deny any wrongdoing.

India's government has called the U.S. firms arrogant https://www.reuters.com/world/india/ind ... 2021-06-27 and accused them of using legal routes to stall the investigation.

In final submissions made to a court in southern India's Karnataka state, the Walmart (NYSE:WMT) unit argued that CCI and the court "confuse the facts" between the case of Amazon and Flipkart, and overlooked that they were "fierce competitors".

To back its arguments, it said that a business agreement examined by the CCI before ordering its probe was only between Amazon and its sellers, and there was no such evidence against the Walmart unit.

"The allegations and the evidence before the CCI against the Appellant were qualitatively different from those relating to Amazon ... The CCI should have independently examined the case against each of the two platforms," Flipkart said in its 46-page submission, which was not public.

The Indian court is likely to pass a written order on the appeals in coming days.

Flipkart and Amazon did not immediately respond to a request for comment. The CCI didn't respond outside regular business hours on Sunday.

For years, Amazon and Flipkart have denied allegations from brick-and-mortar retailers about circumventing Indian law by creating complex business structures.

Trade minister Piyush Goyal last month lashed out on U.S. e-commerce giants for filing legal challenges and failing to comply with the CCI's probe, saying "if they have nothing to hide ... why don't they respond to the CCI?"

In February, a Reuters investigation https://reut.rs/2OCOT2W based on internal Amazon documents showed the U.S. firm for years had helped a small number of sellers prosper on its platform in India, using them to bypass foreign investment laws. Amazon also has indirect equity stakes in two of its big online sellers, Cloudtail and Appario, which get "subsidized fees", Reuters reported.

The Walmart unit argued in its submission that "unlike in the case of Amazon", there were no structural links of any kind between Flipkart and its sellers.

Flipkart "ought to have been treated differently from Amazon," it said.

Amazon and Flipkart are leading players in an e-retail market India forecasts will be worth $200 billion by 2026.

https://www.investing.com/news/stock-ma ... on-2560832