Wallmart buys Rs 531 crore Flipkart shares from Binny Bansal

Binny Bansal sold about 54 lakh of equity shares worth Rs 531 crore to Walmart.

Flipkart co-founder, Binny Bansal.
Flipkart co-founder, Binny Bansal.

New Delhi: Flipkart co-founder, Binny Bansal, on Monday sold about 54 lakh of equity shares worth Rs 531 crore to the Walmart’s Luxembourg entity FIT Holdings SARL, as reported by IANS.

"Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-founder Binny Bansal for USD 76 million through its Luxembourg-based entity FIT Holdings SARL," said the Chennai-based Paper.vc in an e-mail to IANS.

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