New Delhi:
India's ecommerce firm Flipkart is passing through the notorious stretch of rough sea of valuation as once the e-commerce giant Flipkart's valuation has been slashed by Morgan Stanley for 4th time in 9th months. The cut in valuation is bad for flipkart specially at a time when it is looking to raise fresh round of funding
On Tuesday, Morgan Stanley chopped value of Flipkart shares by 38.2 percent. The fund currently holds 1,969 shares in Flipkart that are collectively valued at $102,644.
Flipkart current valuation stands at $6 billion, the company once valued at $15 billion.
The cut in valuation comes at a time when Flipkart is said to be in talks with the largest retailer, Wal-Mart Stores Inc, to raise funds worth US$1 billion.
The latest cut in valuation is in lines with 27 percent cut in February.
As of March 31, Flipkart shares stood at $87.9 per share from $103.97 per share as of 31 December. The December value marked a 27% fall from $142.24 per share in June 2015, according to a regulatory filing by the firm in February.
