Valic, Series D investor in India’s leading e-commerce startup Flipkart, marked up valuation of Flipkart by 10%. The valuation of Flipkart goes to $108.04 per share compared to $98.19 per share for the February ended quarter.
Initially Mutual fund investor Valic had marked down the value of Flipkart for two consecutive quarters by 20.2% and 12% respectively.
Adding this marked up Flipkart value is at around $11.55 billion, as compared to $10.5 billion earlier.
Valic had picked up shares in Flipkart as a part of its series D round of funding in 2013, when the India’s largest e-commerce player had raised $360 million in two tranches.
Last month, another mutual fund investor Fidelity had disclosed a marginal 3% markup in the valuation of its Flipkart shares, after two consecutive markdowns earlier this year.