India Digest: Binny Bansal sells $76m Flipkart stake to Walmart; Govt startup fund allocation lower than target

Flipkart co-founder Binny Bansal sold around 54 lakh of his equity shares for $76 million (Rs 531 crore) to retail giant Walmart’s Luxembourg entity FIT Holdings SARL, according to regulatory filings. In a separate development, Startup India fund has allocated as much as Rs 2,265 crore (approximately $328 million) to risk capital investors (VC funds) at the end of March 2019, an amount lower than the initial target of Rs 3,300-3,500 crore.