ADQ in advanced talks to infuse $400-500 million in Flipkart: sources

ADQ, formerly known as Abu Dhabi Developmental Holding Company, is in advanced stages of discussions to pump in about USD 400-500 million (around Rs 3,000 crore to Rs 3,660 crore) in e-commerce major Flipkart, according to sources.

The transaction could value Flipkart between USD 35-40 billion, sources close to the development said.

An announcement could be made in the next few weeks, they added.

One of the persons privy to the discussions said that Flipkart could raise about USD 3 billion or more as there is significant interest from investors.

The e-commerce major is also in discussions with SoftBank Group and some others as investors are keen on tapping into the digital commerce space that has seen significant growth during the pandemic, the person added.