Binny Bansal sells Flipkart stake worth $250m to Chinese tech giant Tencent

Binny Bansal listens during an interview in Bengaluru, India, on Monday, June 20, 2016. Photographer: Namas Bhojani/Bloomberg

Chinese tech giant Tencent Holdings Ltd has bought a stake worth nearly $250 million in Flipkart from the Walmart-controlled Indian e-commerce giant’s co-founder Binny Bansal, show filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) accessed by DealStreetAsia – DATA VANTAGE.

Tencent continues to invest in Indian companies even as the country’s government has placed various curbs to avoid Chinese investments in local businesses.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter