Flipkart an E-Commerce firm is in talks to sell a small part of stake to Bennett, Coleman and Co. Ltd in a $75 Million deal.
Under this deal, BCCL will be issued shares in return for cash & ads for several years in media including The Economic Times, The Times of India, Times Now Channel and ET Now.
Flipkart’s presumed valuation is at $15 million, its $75 million deal would make a 0.5% stake. In February, Flipkart’s share was 27% marked down by the fund. IN October 2013 When it raised a funding of $160 Million, then Morgan Stanley first invested its fund.
Flipkart-BCCL deal is so called a Private Treaty Deal. It was first Introduced by BCCL in 2004 to built a large portfolio of holdings. If this deal goes through it will boost BCCL’s strong connection with India’s booming start-up business.
In February BCCL had a similar deal with Snapdeal an online marketplace. It has also invested in many startups including Uber a cab hailing service provider, Coursera an education startup and Haptik a service provider. It also owns a real estate listing site Magicbricks.com and Gaana a music startup.