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MarketScreener Homepage  >  Equities  >  Nyse  >  Walmart Inc.    WMT

WALMART INC.

(WMT)
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Walmart : Flipkart to Partially Spin Off Payment Platform PhonePe

12/03/2020 | 03:55am EST
   Ben Otto 
 

Walmart Inc.'s Indian e-commerce marketplace Flipkart is partially spinning off its digital-payments platform in a deal to raise $700 million in fresh capital for the unit.

Flipkart said Thursday that PhonePe will raise $700 million in primary capital from existing Flipkart investors led by Walmart. Bengaluru-based Flipkart will remain majority shareholder of PhonePe.

The latest fundraising round will give PhonePe, one of the largest digital-payments platform in India, a post-money valuation of $5.5 billion, Flipkart said.

"This partial spinoff gives PhonePe access to dedicated long-term capital to pursue our vision of providing financial inclusion to a billion Indians," said Sameer Nigam, PhonePe's founder and chief executive.

PhonePe, which competes with Google Pay and Paytm in India, has more than 100 million monthly active users who generated nearly a billion digital payment transactions in October, according to Flipkart.

Walmart in 2018 acquired a controlling stake in Flipkart for $16 billion--the U.S. giant's largest-ever acquisition.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

12-03-20 0354ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.19% 1727.62 Delayed Quote.-1.43%
WALMART INC. -1.59% 144.64 Delayed Quote.0.34%
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Financials (USD)
Sales 2021 552 B - -
Net income 2021 19 352 M - -
Net Debt 2021 44 086 M - -
P/E ratio 2021 20,7x
Yield 2021 1,51%
Capitalization 409 B 409 B -
EV / Sales 2021 0,82x
EV / Sales 2022 0,81x
Nbr of Employees 2 200 000
Free-Float 48,9%
Chart WALMART INC.
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Walmart Inc. Technical Analysis Chart | WMT | US9311421039 | MarketScreener
Technical analysis trends WALMART INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 161,31 $
Last Close Price 144,64 $
Spread / Highest target 24,4%
Spread / Average Target 11,5%
Spread / Lowest Target -28,1%
EPS Revisions
Managers and Directors
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Dacona Smith Chief Operating Officer & Senior VP-Sam's Club
Brett M. Biggs Chief Financial Officer & Executive Vice President
Clay Johnson Enterprise Chief Information Officer & EVP
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