it is reported that the U.S. mutual fund company Fidelity Investments has been held in India, the electricity supplier Flipkart stock value of about 36%.
On the 24 January
according to the U.S. Securities and Exchange Commission (SEC) submitted documents show, Fidelity’s two mutual fund Flipkart stock value down from August of last year’s $81.55 to $52.13 in November 30th.
according to foreign media Mint reported that, according to Flipkart’s issued shares, the company’s valuation of $5 billion 580 million.
Fidelity has yet to respond to requests for comment. Flipkart declined to comment.
moment, Flipkart in the India market faces fierce competition from the electricity supplier giant amazon. According to India media reports, there have been a number of mutual funds and investors last year to hold the value of their holdings of Flipkart shares.
in recent months, Flipkart has been to adjust the company’s executives, this series of actions is widely interpreted as the Company re focus on profit margins, rather than the number of growth.