South African Conglomorate Naspers Now Owns 17.7% in Flipkart

South African media conglomerate Naspers now owns 17.7% of #flipkart, India’s largest e-commerce company. In its latest financial report, the company said

During May 2014 the group invested a further R543m in cash in Flipkart. The group  now has a 17,7% interest in Flipkart on a fully diluted basis.

That is, the company paid $51.25 (~Rs 307 cr) mn for the additional stake in May. Flipkart was valued at $1.6 bn in July 2013, when Naspers paid $140 mn for an additional 8.6% in Flipkart. At the time, the group now had 16.7% interest in Flipkart on a fully diluted basis. Naspers acquired redBus in June 2013.

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