Flipkart to buy 7.8% stake in Pantaloons parent company for ₹1,500 crore

Walmart's Flipkart has agreed to buy a 7.8% stake in Aditya Birla Fashion and Retail, which operates over 3,000 stores including the Pantaloons brand, for ₹1,500 crore. Flipkart will also sell and distribute various Aditya Birla Fashion's brands. "This partnership is an emphatic endorsement of the growth potential of India," Aditya Birla Group Chairman Kumar Mangalam Birla said.