Tencent buys stake worth Rs 2,060 cr in Flipkart from Binny Bansal

Chinese technology conglomerate Tencent has bought stake worth $264 million (about Rs 2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents.

Singapore-headquartered e-commerce firm Flipkart has operations in India only.

Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV.

The transaction was completed on October 26, 2021 and was shared with the government authorities at the beginning of the current financial year.

Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around $264 million, as per last valuation of $37.6 billion disclosed by the e-commerce firm in July 2021.