US mutual fund marks down Flipkart share value by 25%

The valuation woes of Flipkart continued  as a USA open-end investment company managed by Vanguard Investment marked down the worth of its shares within the company by twenty five per cent.

This is the sixth knock off for the biggest e-commerce marketplace of the country in as several months.

The open-end investment company marked down the worth of its shares to $102.6 as on March 2016, from $136.87 in Gregorian calendar month 2015.

Vanguard's price of its shares in Flipkart is $6 million, the fund disclosed to regulators last month.

Flipkart has maintained that investment cycles have bumps and internet-based sectors were undergoing one presently.

"Overall, these square measure monetary cycles that happen within the whole world. i believe the web sector itself goes through a down cycle, however because the positive cycles do not last forever, the down cycles additionally do not last forever," aforesaid Sachin Bansal, chairman, Flipkart.

Morgan Stanley marked down its investments double, whereas T Rowe worth, Fidelity and Valic have additionally marked down their investments within the e-commerce company.

In July 2015, Flipkart was valued at $15.2 billion, once it raised funds last. The calculable valuation hovers between $9.8 billion and $11.4 billion, supported the marked downs by these investors.

Read more at: http://dollaradvisory.com