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Azim Premji Makes $130 Million in Flipkart Deal

18May By Sheldan RungasamyNo Comments

BUSINESS

Azim Premji Makes $130 Million in Flipkart Deal

The Walmart-Flipkart $16 billion acquisition must be the biggest fortune that could ever fall on investors in India’s largest e-commerce platform as they are set to receive their biggest payday. However, the e-commerce platform boasted international investors exclusively and therefore, Indians that will benefit from the $16 billion deal are only Flipkart founders and employees. However, one Indian investor will get around 420% returns on an investment he made 4 years ago in fashion e-commerce platform, Myntra, that was subsequently acquired by Flipkart. Indeed, the chairman of Wipro Limited and third richest man in India, Azim Premji is going to receive $130 million from his $25 million investment in Myntra thanks to the acquisition of Flipkart by Walmart, according to two people bri...

After Azim Premji Objection, Credit Suisse Reaches Out to Snapdeals Minority Shareholders

Investment bank Credit Suisse is reaching out to minority shareholders of Snapdeal to build a consensus on the sale of the e-commerce platform to larger rival, Flipkart. According to sources, Credit Suisse, which is advising Snapdeal on the proposed deal, is reaching out to smaller shareholders to get them on board for the acquisition. The beleaguered firm has a number of investors including PremjiInvest, Ontario Teachers Pension Plan, Ratan Tata, Foxconn, Temasek and BlackRock among others. Emails sent to Snapdeal and Credit Suisse did not elicit any response. PremjiInvest the personal investment arm of Wipro chairman Azim Premji and a minority investor in Snapdeal -- had written to the company seeking greater clarity on the deal terms. It has also called for equal treatment of ...

Premji Invest: A Investment group led by Azim Premji

Working quietly since 2006, Premji Invest investment firm has built up positions and funded around 40 publicly listed and private companies out of a corpus of $1 billion (Rs4,290 crore). Yet, its operations are shrouded in secrecy and the firm has consciously avoided building a public profile. Premji Invest is a private equity fund owned by Azim Premji, which manages over $2 billion of Azim Premji's personal wealth by investing in capital markets and picking minority stakes in start-ups, including homegrown e-commerce companies such as Flipkart and mobile payment companies such as Chennai-based Financial Software and Systems. The investment ratio for Premji Invest is analysed as follows: Till date, more than 60% of its total cash have gone in capital markets, buying stocks of firm...