Flipkart valuation slashed to $5.37 bn by Morgan Stanley
A mutual fund managed by Morgan Stanley has marked down the value of its holdings in Flipkart for the fifth consecutive quarter to about $5.37 billion. In its previous markdown, Morgan Stanley slashed Flipkart’s valuation by about 38% to $5.54 billion. Over the past 12 months, at least five mutual fund investors have marked down Flipkart’s valuation.