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Flipkart Is in Talks to Raise $3 Billion From SoftBank, Sovereign Wealth Funds

  • E-commerce giant to raise funds as IPO pushed back to 2022
  • SoftBank to back Flipkart again after selling stake to Walmart
A Day In The Life Of A Flipkart Deliveryman

Photographer: Dhiraj Singh/Bloomberg

Flipkart, the Indian e-commerce giant controlled by Walmart Inc., is in talks to raise at least $3 billion from investors including SoftBank Group Corp. and several sovereign wealth funds, according to people familiar with the matter.

The startup is targeting a valuation of about $40 billion and is in discussions with Singapore’s GIC Pte., Canada Pension Plan Investment Board and the Abu Dhabi Investment Authority, said the people, asking not to be named because the discussions are private. Japan’s SoftBank, which had previously backed Flipkart before selling its stake to Walmart, could invest $300 million to $500 million of the total through its Vision Fund II, one of the people said.