India: Flipkart valuation downgraded by Morgan Stanley third time in 6 months

Photo: Mint

Morgan Stanley Institutional Fund Trust, one of the mutual fund investors in Flipkart, has marked down its estimate of the company’s valuation for the third consecutive time in the past six months.

Morgan Stanley values its Flipkart holdings at $84.3 a share as of 30 June, some 4% lower from the preceding quarter, according to a filing with the US Securities and Exchange Commission. Morgan Stanley valued Flipkart shares at $142.2 a share as of June 2015, filing show. Flipkart had last raised a financing round in the middle of last year when it bagged a valuation of $15 billion.

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