Mumbai, April 27: There is speculation in the industry that Binny Bansal, one of the co-founders of India's largest e-commerce firm, Flipkart is planning to sell his stake and exit the company, following the Walmart-Flipkart deal. Walmart has been in talks to buy 55 percent of Flipkart through a mix of primary and secondary share purchase for quite some time, valuing Flipkart around $20 billion. There were reports, which said that the Walmart deal, which is in the final phase, will see Flipkart's valuation rise as much as 70 percent within a year. In fact, the Walmart and Flipkart deal will reportedly, give the world's largest brick-and-mortar retailer, access to an e-commerce market that Morgan Stanley estimated to be worth $200 billion in a decade's time.

According to a Factor Daily report, both the co-founders, Binny and Sachin Bansal, who own 5.5 percent each in the company, are planning to sell their stake, but Sachin is still interested in hanging around in Flipkart. According to a report on Entrackr, both the Bansals have backed many start-ups in their personal capacities. E.g. Sachin has invested in seven ventures, with total funding of $26 million, while, Binny has invested about $32 million across 17 companies. Reportedly, each of the Bansals is expected to be richer by US $ 2.75 billion, following Walmart's deal with Flipkart.

SoftBank is the largest shareholder in Flipkart with a stake of 23.62 percent. Tiger Global is the second largest with 22.44 per cent of preference share capital. Naspers (MIH B2C Holdings BV) is the third largest with 14.57 per cent of preference share capital.

(The above story first appeared on LatestLY on Apr 27, 2018 05:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).