After Morgan Stanley, now T Rowe Price cuts down Flipkart's valuation by 4%

T Rowe Price trimmed Flipkart’s valuation by another 4% to about $9.9 billion. Earlier, mutual fund shareholder Morgan Stanley cut slashed its valuation more aggressively by 38% to $5.6 billion in November.

After the latest cut, Flipkart's valuation per share stands at $93.15 at the end of December quarter. It has come down from $96.29. Flipkart was valued at $15.2 billion in 2015, when it had raised funding at $142.24 per share.

The repeated slashing of valuation has raised several questions about Flipkart’s ability to retain its preferred valuation while negotiating subsequent funding rounds.

Flipkart is facing a tough competition from Amazon, which has stepped up its efforts and is committed to park $5 billion to its Indian operations.

Recently, Flipkart was also in news after it shuffled its top-level management and appointed Kalyan Krishnamurthy as the new CEO. Cofounder Binny Bansal moved to a new position as group CEO, and the other cofounder Sachin Bansal continues as executive chairman.