SoftBank Group may invest $700 mn in Flipkart after exiting firm in 2018

Techy conglomerate investing in Flipkart at a time when Reliance Industries and Tata are betting big on e-commerce as well.

Masayoshi Son-led SoftBank Group Corp is in talks with Flipkart to invest $700 million in the e-commerce giant, according to the reports by The Economic Times and Mint. Japan’s SoftBank is looking to invest in Flipkart, three years after it sold its entire stake in the company to Walmart Inc, the world’s largest retailer.

It has been reported that the financing is part of a larger $2 billion round. Sovereign wealth funds such as Abu Dhabi’s ADQ and Canada Pension Plan Investment Board (CPPIB) are expected to participate in this round. Existing investors such as GIC and Qatar Investment Authority