The pace of spending by Amazon India has only risen this year, as it introduced its Prime service and has also made an aggressive grocery push.
Flipkart’s fashion business, including subsidiaries Myntra and Jabong, accounted for about one third of gross sales in the September quarter.
“In India, core sectors like healthcare, education and supply chain will be disrupted (by emerging) technology," Binny Bansal said.
Amazon Seller Services' turnover for the last fiscal rose 116% to Rs 2,217 crore while Flipkart Internet's sales increased 153% to Rs 1,952 crore during the same period.
This has been a year of aggressive expansion for Amazon in the country as it has launched a slew of global programmes, including the Prime subscription service.
“It is my job to look for exits, but that does not mean any deal is imminent,” said Vani Kola, managing director at Kalaari, declining to comment specifically on the secondary sale.
The deal underlines the growing attractiveness of the B2B ecommerce segment, where other companies like India MART and Udaan have also raised capital this year.
Flipkart's Sachin Bansal, Ola's Bhavish Aggarwal seek government's help in battle against Amazon & Uber
They have now raised the banner of nationalism, urging the government to design policies which will favour desi cos against foreign rivals.
VCs aim to close multiple deals despite a lack of clarity on regulatory issues in the segment
Ibibo will also carve out its 14% stake in PayU and 52% in Tek Travels before the transaction closes, with MakeMyTrip entitled to a payout on these assets in five years.
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