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Binny Bansal sold $76mn worth stakes to Walmart

Nabanita Dutta

News Editor
Image Credit: shortpedia

Flipkart co-founder Binny Bansal has transferred 5,39,312 equity shares of Flipkart's Singapore base entity “Flipkart Private Ltd” to the Walmart. With this transaction, Binny's share in the company will go down to 3.3%. However Tiger Global and Tencent's shareholding will remain at 5% and 5.23% respectively. Bansal is offloading his shares in multiple tranches since Walmart acquired Flipkart in August 2018.