The $16 Flipkart-Walmart deal was struck on 9 May. The Flipkart IPO should be done at no less a valuation than that at which Walmart invested in the Indian e-commerce firm, the filing said. Walmart said it may, in future, appoint a sixth board member with the approval of the majority of the Flipkart directors. Reuters previously reported that Google-parent Alphabet was in talks to invest about $3 billion for a roughly 15% stake in Flipkart. That growth came just 9 months after SoftBank used its Vision Fund to invest about $2.5 billion in Flipkart.

Source: Mint May 12, 2018 06:00 UTC