From a peak valuation of $15b, Fidelity says Flipkart is now worth only $5.6b

Photo: Mint

US-based mutual fund giant Fidelity Investments has marked down the valuation of its holdings in Flipkart by over a third, marking the steepest valuation markdown of India’s most valuable Internet start-up since Morgan Stanley also drastically lowered the value of its holdings in Flipkart in November.

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