SoftBank looking to invest $600-700 million in Flipkart, three years after exit

Mumbai | Bengaluru: SoftBank Vision Fund has held discussions with Flipkart to invest around $600-700 million, three years after the Japanese group exited the Indian online retailer by selling shares to Walmart Inc.

Sources close to the development told ET that the funding is part of a larger $2 billion round which could see the participation of a group of sovereign wealth funds like Abu Dhabi’s ADQ, Canada’s CPPIB, as well as the company’s existing investors such as GIC and Qatar Investment Authority.

The transaction is likely to value the Bengaluru-based firm at $25-30 billion, sources said.

“The talks have been ongoing with SoftBank and the final contours of the deal will be drawn up in the next few weeks,” said a person close to the developments.