1. Good news for Flipkart, John Hancook raises valuation by 16 per cent

Good news for Flipkart, John Hancook raises valuation by 16 per cent

This mark-up for Flipkart comes a week after two other US-based mutual funds, Fidelity and Valic, marked down Flipkart’s shares, while another, Vanguard, maintained status quo on its holdings

Bengaluru | Published: May 9, 2017 7:08 AM
Even Valic marked its holdings in Flipkart from .84 during November, 2016 to .27 in February 28, 2017. (Reuters)

After a series of mark downs from various mutual funds, US-based mutual fund player John Hancock, has marked up Flipkart shares by 16% — the biggest for the company in recent times. As per filings with US market regulator, Securities and Exchange Commission (SEC), John Hancock valued its total Flipkart holdings at $10,79,528, at a price of $126.72 per share as on February 28, 2017. This is 16% higher than its previous valuation of $108.99 per Flipkart share on November 30, 2016.

This mark-up for Flipkart comes a week after two other US-based mutual funds, Fidelity and Valic, marked down Flipkart’s shares, while another, Vanguard maintained status quo on its holdings. John Hancock’s holding is much smaller than Fidelity which holds more than 5 lakh shares in Flipkart.

FE had reported last week that Fidelity Rutland valued its Flipkart’s holding at $50.51 per share, as per its semi-annual report for the period ending February 28, 2017, down from $52.12 during the November 30 ending quarter.

Even Valic marked its holdings in Flipkart from $95.84 during November, 2016 to $94.27 in February 28, 2017.
Flipkart has recently raised $1.4 billion from Tencent, Microsoft and eBay, that valued the company at $11.6 billion down from its erstwhile peak valuation of $15 billion.

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