Flipkart plans $700 million ESOP buyback during PhonePe funding: Report

Flipkart is likely to facilitate a $700 million employee stock buyback as part of digital payments platform PhonePe's new financing round, Economic Times reported. The buyback is part of PhonePe's latest $1.5-2 billion funding round led by Walmart, which will invest the primary capital of roughly $1 billion. The transaction will readjust Flipkart's valuation to $33 billion from $37.6 billion.