Walmart bought a controlling stake in Flipkart in 2018, giving it ownership of PhonePe. The company said last month it would remain a majority stakeholder in both the companies.
The world's biggest retailer, Walmart, is keen to bring in strategic investors for the Indian e-commerce company but is also open to selling to large pure-play investment firms.
General Atlantic is likely to lead the round with an investment of $450- $500 million, making PhonePe the most valuable Indian financial tech firm, surpassing Razorpay and Paytm.
The suspect was arrested in California for fatally shooting his daughter-in-law at a Walmart parking lot. He reportedly travelled over 240 km to find her.
Whoever comes out on top this Diwali gains more than bragging rights. Investors will be watching how Amazon and Flipkart fare against domestic competition such as Reliance.
Oracle & Walmart say American investors will control more than 50% of the new TikTok Global. But this is at odds with ByteDance’s insistence that the company will get a 80% stake.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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