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SoftBank in talks to invest $3 billion in Paytm Mall

SoftBank in talks to invest $3 billion in Paytm Mall

Last week, the U.S. retail giant Walmart bought 77 per cent stake in Flipkart for about $16 billion. This acquisition will ignite an worldwide skirmish with Amazon, which already has identified India, the world's second-most populous country, as the emerging market of the future. Walmart also revealed that it may name or replace the CEO and other executives at Flipkart.

Senate Democratic Leader Chuck Schumer plans to file a Discharge Petition under the Congressional Review Act that would force a floor vote on the resolution, potentially as early as this week.

Further, employees can liquidate their stock options in three instalments - half of the stock on the date of closing of the Walmart deal, 25% a year later, and the remaining stock options two years after the first liquidation. SoftBank, which reportedly has a 21% stake in Flipkart, has been ambivalent about whether to keep or sell its shares, according to recent Economic Times reporting.

Speaking about PayTM mall, the online marketplace, which primarily on its online-to-offline (O2O) model, had a market share of about 5.6% in 2017, its first full year of operations, with gross merchandise volume, or gross sales, of about $1 billion, according to Forrester Research.

The ecommerce giant expects to close the transaction and regulatory approvals over the next 60 to 90 days.

Walmart's big bucks could go a long way in Flipkart's fight against Amazon in one of the world's fastest-growing e-commerce markets.

Beyond Amazon, Chinese e-commerce giant Alibaba has also built a position in India as the majority owner of Paytm, and local providers like Snapdeal are still in the fight as well.

As regards the capital gains tax made by Indian founders Sachin Bansal and Binny Bansal, the official said they would have to pay 20 percent tax with indexation benefit, which is applicable on sale of unlisted shares by Indian residents. But Flipkart's board reportedly believed a deal with Walmart had a better of chance of passing regulatory muster.

The acquisition may lead Flipkart to take a move to make Flipkart public within four years as per the public filing reported by a major daily journal. The IPO will be done "at a valuation no less than that paid by Walmart" for this buyout, the SEC filing said. Walmart has been embracing a more acquisitive approach to ramping up online growth, rather than attempting to do so organically, given the importance of rapidly building scale as other fast-growing online competitors such as amazon RPT amazon keep expanding.

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