Morgan Stanley which had earlier marked down Flipkart’s share value by 27%, has now marked it down further by 15.5%.
Flipkart’s shares which was earlier valued at $103.97 per share as of December 2015, is now marked down at $87.9 per share as of March 2016.
With this second consecutive markdown, the company’s valuation now stand at $9.39 billion which is down from $15.2 billion when it last raised capital in July 2015.
Earlier Flipkart’s other investors including T Rowe Price and Fidelity Rutland Square Trust II and Valic Co had marked down stake by 15% and 20% respectively.[source]