ABU DHABI: Abu Dhabi sovereign fund ADQ is in talks to invest about US$500mil (RM2.06bil) in India’s Flipkart, according to people familiar with the matter, as the Walmart Inc-backed e-commerce firm raises funds ahead of a potential initial public offering (IPO) next year.
The oil-rich emirate’s newest state investment company is discussing an injection of funds that would value Flipkart between US$35bil (RM144.02bil) and US$40bil (RM164.6bil), the people said, asking not to be identified as the information is private.
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