The stake, which collectively amounts to about 5 percent,
would raise Walmart's ownership in the e-commerce giant, the newspaper reported
citing people familiar with the matter.
"They (Accel and Tiger) want to sell and exit now
fully. The discussions are moving ahead and the transaction will close in due
time," a person familiar with the matter told ET.
Accel owns a little over 1 percent of Flipkart, while Tiger
Global holds about 4 percent of the company, the report said.
Flipkart, Walmart, and Tiger Global did not immediately
respond to Reuters' requests for comment. Accel could not be immediately
reached for a comment.
Walmart acquired a majority stake in Flipkart for about $16
billion in 2018 - its biggest deal ever - and later that year said it could
take the company public in four years.
In April last year, Reuters reported that Flipkart had
internally raised its IPO valuation target by around a third to $60 billion -
$70 billion, and plans a US listing in 2023.
Earlier this month, Walmart confirmed that it had already
paid the Indian government most of the nearly $1 billion in tax owed after
digital payments company PhonePe, which the US retailer owns through Flipkart,
shifted its headquarters from Singapore to India.
Walmart bought a controlling stake in Indian e-commerce
giant Flipkart in 2018, giving it ownership of PhonePe. The company said last
month it had completed the separation of PhonePe from Flipkart, adding that it
would remain a majority stakeholder in both companies. © Reuters