Bengaluru: At a time when India’s most valuable internet firm Flipkart is looking to raise a fresh round of funding, it has faced another valuation markdown by one of its mutual fund investors. On Tuesday morning, a mutual fund managed by Morgan Stanley drastically marked down the value of its holdings in Flipkart by about 38% to $52.13 a share, down from $84.29 a share in the June quarter. The mutual fund currently holds 1,969 shares in Flipkart that are collectively valued at $102,644. This marks at least the fourth valuation markdown from Morgan Stanley in the course of the last nine months. The fund marked down the value of its Flipkart shares to $87.9 per share as of 31 March from $103.97 per share as of 31 December.

Source: Mint November 29, 2016 08:03 UTC