US’ retail giant Walmart Inc. is likely to announce the finalisation of its biggest acquisition deal with Flipkart, an Indian e-commerce mammoth, to buy 60 per cent stake in it at around US $ 20 billion alongside Google’s parent Alphabet that will take up 15 per cent share in the e-retailer.
It has also been cited that Walmart Chief Doug McMillon is also in the country, to make the final declaration regarding the same.
The latest update also cites that Sachin Bansal, the current Flipkart Group CEO, will sell his entire share in the company to Walmart; and with 5.2 per cent stake under his name, Binny Bansal, COO, is expected to be named as the new Chairman of the company, as reported.
Walmart’s path to acquiring shares in the Indian e-commerce giant, Flipkart, witnessed some obstacles; as, to kill the tax liability, Softbank (that funds Flipkart) decided to keep its shares for another 1 year which seems to have sorted.
The Confederation of All India Traders (CAIT) further made things complex, as the trader’s body demanded details of the much-hyped deal.
In a statement issued, CAIT cited, “The deal should be disallowed since it will entice more loss funding and predatory pricing on e-commerce which is already choked with malpractices.”
CAIT further stated that despite having clear FDI rules and policies, foreign companies are choosing as an escape route, be it in retail or in the online market. Trader’s body even alleged that Walmart failed to enter the Indian market through FDI and that is why they are trying e-commerce route which is going to be dangerous for the trading community.
Reportedly, US-based retail mammoth’s previous move with Bharti Enterprises to make its mark on the Indian retail industry failed. Currently, Walmart has 21 BestBuy stores in India it sells 5,000+ products.
Walmart is already facing a stiff competition from Amazon in the US and Alibaba in China. The retailer seems to have taken the similar route in India that it did in China, to counter Alibaba by acquiring Jet.com for US $ 3 billion. Flipkart hold the maximum share in the e-retail industry in India, and by obtaining majority stake in it, Walmart will make a big foray into Indian e-commerce.
It’s worth mentioning here that Amazon is the biggest arch-rival of Flipkart in India and even made an offer to buy 60 per cent share in it, but the same was reportedly declined by the latter.
Bharat Tex Special Report 2026 
