Indian Business Case Studies Volume I
Sandeep Pachpande et al.
Published:
2022
Online ISBN:
9780191965425
Print ISBN:
9780192869371
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Indian Business Case Studies Volume I
Sandeep Pachpande et al.
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Sandeep Pachpande,
Asha Pachpande,
J A Kulkarni
Pages
157–168
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Published:
June 2022
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Pachpande, Sandeep, Asha Pachpande, and J A Kulkarni, 'The ‘Walkart’ of India: A Case Study on Walmart-Flipkart Merger', Indian Business Case Studies Volume I (
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Abstract
US retail giant Walmart has signed a definitive agreement to acquire a 77% stake in India’s largest e-commerce marketplace Flipkart with an investment of around $16 billion, making it the largest transaction in the history of the online retail space globally. The deal, which wiped away $10 billion of Walmart’s market capitalization as investors reacted negatively in early morning trade on the New York Stock Exchange, stands out for several exits. The biggest was Sachin Bansal selling his entire 5.96% stake for $1.23 billion and parting ways with Flipkart that he had founded in 2007 along with a friend from IIT, Binny Bansal (not related). Sachin was nowhere around at the Flipkart campus when the Walmart top team led by CEO Doug McMillon addressed employees in a town hall meeting. Another significant exit is that of Soft Bank, the largest investor in Flipkart. In a strange coincidence, the deal, valuing Flipkart at $20.8 billion, was announced to the world by Soft Bank Chief Executive Masayoshi Son in a webinar with investors hours before Walmart did so. He also confirmed that Soft Bank would get about $4 billion from its $2.5-billion investment in Flipkart last August. Flipkart’s valuation at $20.8 billion is a 75% increase over its previous valuation in the range of $11–12 billion last August. Out of the $16-billion investment, Walmart will put in $2 billion in new equity funding, while the rest will be utilized to acquire stakes of existing investors in the Bengaluru-based company. The case study focuses on Effect of regulatory restrictions in Indian Ecommerce Markets for Global MNCs.
Keywords: Ecommerce market, market capitalization, loyalty programme, internet Ecosystem, Startup Ecosystem, Multi brand retail, IPO—initial public offer, Predatory pricing, cash and carry business model, Angel investors, Startup Incubators
Subject
Knowledge Management
Collection: Oxford Scholarship Online
Indian Business Case Studies. Sandeep Pachpande, Asha Pachpande, and J A Kulkarni, Oxford University Press. © ASM Group of Institutes, Pune, India 2022. DOI: 10.1093/oso/9780192869371.003.0017
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