Flipkart is worth $5 billion? - Flipkart is in negotiations to- Navbharat Times Photodhamal

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Flipkart is in negotiations to raise at least $500 million, or about Rs 3,000 crore, an investment round that will prepare the ground for a likely listing in the US next year, according to several people aware of the development.

In This Pic : Sachin Bansal, Binny Bansal

Pic Courtesy : BCCL

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These sources, who are not directly involved in the process, said a fund founded by Russian billionaire Yuri Milner is taking the lead drawing in new investors soon after pouring money itself into the Bangalore-based company.

In This Pic : Sachin Bansal, Binny Bansal

Pic Courtesy : BCCL

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Among those said to be interested are Singapore's sovereign wealth fund GIC and US-based investment firm T Rowe Price. Flipkart declined comment on what it called "market speculation".

In This Pic : Sachin Bansal, Binny Bansal

Pic Courtesy : BCCL

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GIC and T Rowe Price did not reply to questions sent by email. This round of funding, when it fructifies, could see the Bangalore-based company being valued at $5 billion (Rs 30,000 crore) at least, a near-doubling of Flipkart's valuation over the last round of funding in May.

In This Pic : Sachin Bansal, Binny Bansal

Pic Courtesy : BCCL

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Flipkart is the clear leader in India's online retail space but US-based Amazon has started to rapidly build scale, hotting up the competition as well as the need for cash for the Bangalore company.

In This Pic : Sachin Bansal, Binny Bansal

Pic Courtesy : BCCL