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As competition from Amazon, Reliance, and Tata intensifies, Flipkart is aiming to raise $3 billion

Shortpedia

Content Team
Image Credit: Shortpedia

Flipkart, the Indian e-commerce behemoth controlled by Walmart Inc., is in negotiations with SoftBank Group Corp. and other hedge funds to raise at least $3 billion. The business planned to list on the stock exchange in the fourth quarter of this year. As it tackles rising competition from rival e-commerce titans, the possible capital may help Flipkart expand in its supply chain, technology, and new acquisitions.