Wednesday, 11 January 2017

Flipkart plans to hit Wall Street

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E-commerce major Flipkart is preparing for an IPO (initial public offering) on the Nasdaq and has hired one of the Big Four audit firms for the same, Business Standard reported on Wednesday. The IPO is expected in 2018 as the process of due diligence has already begun. In an e-mail to employees, Co-Founder and Group CEO Binny Bansal said that one of his key tasks is to see the IPO through. The move is seen as an effort to cash in on the e-commerce major’s prospects by investors such as Tiger Global, Accel Partners, GIC and others.

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