A mutual fund managed by Morgan Stanley has slashed value of its Flipkart shares by another 38.2%, pegging the valuation of India’s most valuable Internet company at $5.54 billion in the most significant markdown till now.

Morgan Stanley has marked the value of their Flipkart shares at $52.13 per share as of September 2016, as compared to $84.29 per share in June 2016 and down 63.4% from $142.24 per share as of June 2015, filings made by the fund show.
This is the fourth consecutive markdown by Morgan Stanley, one of the bigger mutual fund investors in India’s most valuable startup and its largest to date, after a 27% markdown in February this year.

This effectively pegs Flipkart’s valuation at $5.54 billion, compared to $9 billion in the previous quarter and $15.2 billion when it last raised capital in July 2015. Prior to this, Flipkart has also witnessed a series of markdowns from other mutual fund investors like T Rowe Price, Fidelity and Valic over the past year.

Click here to read the complete story on Economic Times.
#Flipkart #MorganStanley #Startup #Start-up #Valuation #Finance #India