In the worst-ever terror strike in J&K, suicide bomber rams CRPF convoy at Lethpora in Pulwama district, killing more than 40 security personnel

News Snippets

  • Gully Boy opens to rave reviews and good collections on Valentine's Day
  • Suicide bomber in J&K terror strike identified as Adil Ahmed Dar, a local Class XI dropout who joined Jaish a year ago
  • Referring to the terror strike in J&K, PM Modi says that the sacrifice of the security personnel will not go in vain
  • Opposition parties to meet in 2 weeks to review draft common minimum programme (CMP)
  • Arvind Kejriwal says Congress has all but refused to ally with AAP
  • Delhi CM Arvind Kejriwal says SC order on Delhi a blow to democracy
  • SC bench divided on who will control services in Delhi, refers the issue to a larger bench
  • CBDT chairman Sushil Chandra appointed as Election Commissioner
  • Setback to Kejriwal: Supreme Court decides that Anti-Corruption Bureau will stay under the Centre and also gives it the power to set up Inquiry Commissions, two key issues that led to a stand-off between the L-G and the Delhi CM
  • CJI orders inquiry into the issue of tampering with orders on the court's website
  • Anil Ambani admits in court that the deal to sell R-Com's assets to Jio has failed
  • Cable switchover deadline extended to March 31
  • Rahul says Modi committed treason in the Rafale deal and can be jailed for it
  • Fire at Hotel Arpit Palace in Delhi kills 17
  • SC hold ex-interim director of CBI, M Nageshwar Rao gulity of contempt and punishes him by making him sit in the corner of the courtroom till the court rose for the day
Walmart-Flipkart-deal
The Rs 1 Lakh Crore Maths

By India Commentary

About the Author

By our team of in-house writers.

The Walmart-Flipkart deal will renew global investor faith in Indian startups as it has given fantastic returns to those investors who backed Flipkart over the years and stayed till now. The deal has valued Flipkart at $ 20bn (Rs 1.35 lakh crore) and Walmart is paying over Rs 1 lakh crore to acquire 77% stake in the company (although there is confusion over whether the biggest shareholder, SoftBank of Japan, will eventually sell its 22.3% stake). Where will this Rs 1 lakh crore go?

Let us begin with the investors who stayed with Flipkart over the years. Accel was the first big investor in the company and had put in $ 100 million since 2008/2009. It took home between $ 800 million to $ 1bn. That translates to nearly Rs 6750 crore.

Tiger Global was one of the biggest early investors. It invested close to $ 1bn or Rs 6700 crore since 2010 in different rounds of investing. It sold 17% stake for $ 3.3bn or Rs 22275 crore.

Naspers got $ 2.2 bn or Rs 14850 crore for the $ 600 million it invested in 2012.

SoftBank is reported to be in two minds about selling its 22.3% which can fetch it $ 4.46bn or Rs 30105 crore. It had invested $ 2.5bn or Rs 14800 crore just 9 months back.

Employee-held ESOPS will get around $ 1 million or Rs 6.73 crore.

Co-founder Sachin Bansal has exited after selling his remaining 5.5% stake entirely, fetching him Rs 6700 crore.

The other co-founder Binny Bansal will remain CEO. He has sold partial stake for Rs 700 crore and has retained 4.24% that is estimated at Rs 6000 crore.

Apart from this, Rs 13500 crore is being invested as fresh equity.

Phew, there you have it, the arithmetic of Rs 1 lakh crore.

In Depth

delhi-opposition-rally

Opposition Parties: Will They Get Their Act Together?

Editor's Pick

rao

M Nageswar Rao Guilty of Contempt: Supreme Court Rightly Sets An Example

mobiles