Abu Dhabi’s ADQ to invest $500m in India’s Flipkart
Abu Dhabi sovereign fund ADQ is in talks to invest about $500 million in India’s Flipkart, as the Walmart Inc.-backed e-commerce firm raises funds ahead of a potential initial public offering next year. ADQ is discussing a $35 billion to $40 billion fundraising in Flipkart that would come ahead of a planned IPO that could take place as soon as 2022, the people said, asking not to be identified for information confidentiality. The Indian e-commerce firm is seeking to raise at least $3 billion. ADQ paid about $800 million for a 45 percent stake in Louis Dreyfus Company (LDC) last year. The acquisitive investment group also bought the Egyptian pharmaceutical company “Amon” from the Canadian company (Bausch Health) for $740 million.
Tags : INTERNATIONAL e-commerce India Abu Dhabi invest Flipkart Abu Dhabi sovereign fund ADQ