Top Story

e4m_logo.png

Home >> Marketing >> Article

Flipkart sells small stake to BCCL for Rs 260 cr

20-February-2017
Font Size   16
Flipkart sells small stake to BCCL for Rs 260 cr

According to recent media reports, e-commerce company Flipkart Internet has sold a small stake to media firm Bennett, Coleman and Co. Ltd (BCCL) for cash and advertising space in the latter’s media properties.

BCCL made a private placement offer of about Rs 260 crore to buy a warrant for Class B equity shares in Flipkart, according to documents filed with the Registrar of Companies and Tofler, a company research platform.

BCCL invested Rs 26 crore in Flipkart in December; the remaining amount will be paid when it converts the warrant into equity shares of Flipkart, said reports.

The Flipkart deal further burnishes BCCL’s already strong connections with the booming start-up business, said reports.

It was also reported earlier that Flipkart was seeking to raise $500 million-$1 billion in fresh capital.

Since February 2016, as many as 5 mutual fund investors of Flipkart have marked down its valuation by up to 60%. These markdowns have hurt its valuation demands in the ongoing funding talks, but Flipkart’s budding recovery is expected to improve its bargaining power during the talks, reports further said.

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Launches third phase of TVC campaign ‘Think it. Done’

Based in Mumbai, Usha has nearly two decades of experience in the Indian media and entertainment sector and will serve as a strategic advisor to H+K’s diverse portfolio of clients with a special empha...

Report based on media channel data in 96 countries and detailed findings from the world‘s key ad markets, which between them account for approximately two-thirds of the value of global advertising tra...