Flipkart buys back $350mn shares to regain pvt status: Report
Flipkart has reportedly bought back shares from a set of existing investors for $350 million, to reclaim its status of a private company. Registered as a public company in Singapore, Flipkart needed to drop its number of shareholders to below 50 to regain the status, reports added. This comes amid speculations of US-based Walmart buying a controlling stake in Flipkart.