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China's Tencent buys stake worth_____crore in Flipkart from Binny Bansal.

Correct Answer : Option (A) - ₹2,060

Chinese technology conglomerate "Tencent" has bought stake worth USD 264 million (about ₹2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents.
Singapore-headquartered e-commerce firm Flipkart has operations in India only.
Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV.
The transaction was completed on October 26, 2021 and was shared with the government authorities at the beginning of the current financial year.
Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around USD 264 million, as per last valuation of USD 37.6 billion disclosed by the e-commerce firm in July 2021.
The company's valuation surged to USD 37.6 billion after raising USD 3.6 billion (about ₹26,805.6 crore) in funding round led by Singapore's sovereign wealth fund GIC, CPP Investments, SoftBank Vision Fund 2 and Walmart..

Source : Mint

Published On : June 12, 2022
Category : Business and Economics