BENGALURU — Flipkart is now valued at $12.5 billion (Rs 77,000 crore) after Helion Venture Partners and IDG Ventures India sold their stakes in the e-commerce company, according a report in the Economic Times.
Helion had a stake in online electronics retailer LetsBuy, which was acquired by Flipkart in 2012. Helion has sold its entire stake of 0.2 percent, at an estimated worth of Rs 156 crore. IDG had also got a stake in Flipkart after it bought fashion portal Myntra last year. IDG sold a portion of its stake for about Rs 940 crore last month ad still has 0.9 percent left according to the report. Helion declined comment on the developments while IDG Ventures and Flipkart did not respond to email queries.
The buyers are not known. Flipkart is reportedly planning to raise a fresh round of funding which will value it at $15 billion.