The Economic Times was the first to report
on a likely Flipkart funding on June 4.
The startup is aiming for a valuation of
about $40 billion and is in talks with Singapore's GIC Pte. Ltd, Canada Pension
Plan Investment Board and the Abu Dhabi Investment Authority (ADIA), the report
said, citing people familiar with the matter. SoftBank could invest $300-500
million of the total through its Vision Fund II, according to the report.
Flipkart, SoftBank and ADIA did not
immediately respond to Reuters requests for comment.
SoftBank sold its roughly 20% stake in the
e-commerce firm to Walmart in 2018.
Flipkart is in the early stages of
exploring a US listing by way of a SPAC, or special purpose acquisition
company, sources familiar with the matter told Reuters in March.
Reuters exclusively reported in September
that Bengaluru-based Flipkart was preparing to go public overseas as early as
2021, which could value the firm at as much as $50 billion.