Tiger Global increases stake in Flipkart

Tiger Global, the New York-based hedge fund has reportedly increased its holding in e-commerce giant Flipkart by buying shares from erstwhile co-founder Binny Bansal, according to regulatory filings accessed by business intelligence firm, Paper.vc.

The filings by Flipkart indicate that Binny Bansal has sold a tranche of shares for the third time since Walmart’s takeover of the e-commerce firm in 2018.

In this round, Bansal has reportedly transferred part of his holding to two Tiger Global funds, offering 47,759 equity shares to existing shareholder Internet Fund III Pte Ltd and 54,596 shares to incoming shareholder Tiger Global Eight Holdings.