News Snippets

  • West Bengal governor calls major political parties for a meeting in a bid to stop post-poll violence in the state
  • Police stop BJP protestors from reaching police headquarters in Kolkata leading to clashes
  • PM asks all ministers to reach office by 9.30 am. Also asks senior ministers to guide new comers
  • NIA raids seven places in Coimbatore over suspected IS module
  • UP Bar Council chief, elected just three days back, shot dead on Agra district court premises
  • Isro to launch Chandrayaan-2 on July 15
  • The NRS hospital incident snowballs into a major crisis in West Bengal, affecting delivery of healthcare across the state
  • India play New Zealand in the World Cup today. Both teams are the only unbeaten teams left in the tournament
  • Congress thinking of having an interim president as the headless party is being torn apart
  • Temperatures in Delhi soar up to 48 degrees, the highest on over 20 years
  • Yuvraj Singh announces retirement from international cricket
  • SC to hear plea of the wife of journalist Prashant Kanojia, who was arrested for an alleged defamatory post on UP CM Yogi Adityanath
  • Modi asks all secretaries in the government to think of themselves as the PM while implementing strategies
  • WB governor KN Tripathi says he has not submitted a report that calls for the dismissal of the state government
  • Mamata Banerjee compares herself to a wounded tigress and warns the BJP against dislodging her government over post-poll clashes
Agitating doctors refuse to hold closed-door meeting with West Bengal CM Mamata Banerjee. They ask her to visit NRS Hospital instead for an open meeting
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The Rs 1 Lakh Crore Maths

By admin

About the Author

Sunil Garodia 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.