oppn parties The Rs 1 Lakh Crore Maths

News Snippets

  • Defence minister Rajnath Singh says India might revise its policy of "no first use" of nuclear weapons in national interest
  • Ravi Sashtri to remain head coach of Team India fro another two years
  • India defends move on Article 370, says entirely an internal matter
  • UN holds closed door meet on Kashmir but China fails in its attempt to censure India
  • Limited public transport service to be restored in J&K from this weekend
  • Educational institutions to reopen in phases from Monday in J&K
  • Government decides to restore telecommunications in phases in J&K starting with landline phones this weekend
  • PM Modi announces that India will have a Chief of Defence Staff soon
  • PM Modi says government worried about population explosion, will introduce schemes to control it
  • Prime Minister Modi explains the decision to read down Article 370 in his address to the nation on the occasion of Independence Day
  • All 6 accused in Pehlu Khan lynching case acquitted
  • Cricketers will now be tested for dope as BCCI decides to come under NADA after a prod from the government
  • NDTV promoters Prannoy and Radhika Roy prevented from travelling abroad. Channel says it amounts to subversion of media freedom
  • TMC spokesman Derek O'Brien questioned for two hours by the CBI on the party mouthpiece 'Jago Bangla'
  • Former finance minister Arun Jaitley has been admitted to AIIMS for breathing problems. His condition is said to be stable
India Commentary wishes all its readers a very Happy Independence Day. Jai Hind
oppn parties
The Rs 1 Lakh Crore Maths

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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.