The firm didn’t need the services of an investment bank for years because of its unrivalled status as India’s largest e-commerce start-up. India’s most valuable Internet company has held talks with several investment banks including Goldman Sachs Group Inc. as it decides on getting help to raise funds, the people cited above said on condition of anonymity. ALSO READ | Flipkart plans to raise up to $1 billion fresh fundsNow, with Amazon India breathing down its neck, new investors are much more wary of backing Flipkart, prompting the company to explore using a blue-chip investment bank. If Flipkart hands out its fund-raising mandate to an investment bank, it will mark a big win for investment banks that largely missed out on the large fund-raises by Indian Internet companies in 2014 and 2015. Mint reported on 9 October that Flipkart will hit the market to raise $500 million-$1 billion in fresh funds before the end of the year.

Source: Mint November 24, 2016 19:48 UTC