UAE’s ADQ Mulls Investing $500 Million in India’s Flipkart

Published June 14th, 2021 - 01:30 GMT
UAE’s ADQ Mulls Investing $500 Million in India’s Flipkart
The Indian e-commerce firm is seeking to raise at least $3 billion. (Shutterstock)
Highlights
ADQ is discussing a $35 billion to $40 billion fundraising in Flipkart that would come ahead of a planned IPO that could take place as soon as 2022

Abu Dhabi sovereign fund ADQ is in talks to invest about $500 million in India’s Flipkart, as the Walmart Inc.-backed e-commerce firm raises funds ahead of a potential initial public offering next year, Bloomberg reported citing people familiar with the matter.


ADQ is discussing a $35 billion to $40 billion fundraising in Flipkart that would come ahead of a planned IPO that could take place as soon as 2022, the people said, asking not to be identified for information confidentiality.

The Indian e-commerce firm is seeking to raise at least $3 billion.

ADQ paid about $800 million for a 45 percent stake in Louis Dreyfus Company (LDC) last year. The acquisitive investment group also bought the Egyptian pharmaceutical company “Amon” from the Canadian company (Bausch Health) for $740 million.


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