Walmart paid $1.4 billion to buy out Tiger Global’s remaining holding of Flipkart shares as the retail giant further expands its stake in the Indian e-commerce startup.
The transaction took place in recent days and Tiger Global, which has cashed most of its Flipkart shares earlier, overall made a gain of $3.5 billion on an investment of $1.2 billion, the New York-headquartered hedge fund told investors, according to a person familiar with the matter. Wall Street Journal first reported on the deal.
Flipkart is the only Indian startup in which Tiger Global had invested more than $1 billion, according to a person familiar with the matter. The U.S. investment giant has poured over $6 billion on Indian startups altogether.
The secondary Flipkart shares sale value …
