Binny Bansal (File Photo/IANS)

Flipkart co-founder sells part stake to Walmart for 531 cr

Bengaluru: Binny Bansal, the co-founder of India’s leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world’s retail giant Walmart’s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday. “Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile […]

Flipkart CEO Binny Bansal (File Photo)

Flipkart Group CEO Binny Bansal quits over ‘misconduct’

Bengaluru : Flipkart Group Chief Executive Officer (CEO) Binny Bansal resigned on Tuesday over an alleged ‘serious personal misconduct’, the company said. “Bansal’s decision to quit came after an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct,” the city-based e-commerce and its parent American retail giant Walmart […]