Shardul Amarchand Mangaldas and Hogan Lovells have advised Indian e-commerce giant Flipkart on its $3.6 billion funding round led by investors such as SoftBank, which was counselled by Cooley.

According to Reuters, the funding round means Flipkart’s valuation has doubled to $37.6 billion in less than three years. Flipkart is expected to go public soon.

Walmart bought a 77 percent stake in Flipkart for $16 billion in 2018, and since then has expanded to small towns and cities and increased its warehouses in its race with Amazon.com's India unit.

Reuters added that there were $3.6 billion worth of IPOs in India in the first half of 2021, up from $1.1 billion for the same period last year, based on Refinitiv data.

The Cooley team was led by partner Matthew Bartus.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.