One of world’s largest asset management firm marks up valuation of Flipkart, Ola
Jul 31, 2017, 11:09 IST
One of the world’s largest asset management company Vanguard has marked up valuation of two Indian startups-Flipkart and Ola.
Vanguard World Fund marked up Flipkart's valuation by up to 64% and Ola's by 12%.
The mark up comes as a relief as share prices of Flipkart and Ola fell by 30-40% due to successive markdowns in 2016.
As per the filings made with the US Securities and Exchange Commission (SEC), Vanguard World Fund has raised the value of Flipkart's series-G shares by 57% to $107.78 for the quarter ending May as compared to $68.73 per share during the previous quarter. Flipkart's series-H shares have been marked up 64% from $77.71 to $128.01 during the same period.
In November last year, a Morgan Stanley mutual fund had marked down Flipkart’s valuation at $5.6 billon.
Meanwhile, Ola's valuation was moved up by 12% from $187.47 to $209.56 by the fund.
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Vanguard World Fund marked up Flipkart's valuation by up to 64% and Ola's by 12%.
The mark up comes as a relief as share prices of Flipkart and Ola fell by 30-40% due to successive markdowns in 2016.
As per the filings made with the US Securities and Exchange Commission (SEC), Vanguard World Fund has raised the value of Flipkart's series-G shares by 57% to $107.78 for the quarter ending May as compared to $68.73 per share during the previous quarter. Flipkart's series-H shares have been marked up 64% from $77.71 to $128.01 during the same period.
In November last year, a Morgan Stanley mutual fund had marked down Flipkart’s valuation at $5.6 billon.
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