Employees of Flipkart will be able to cash their stock options at the rate of $125-129 per share once the acquisition by Walmart for $16 billion is complete. All the employees will be allowed to liquidate the stock option in three installments, half on the day of closing the deal, 25% a year later and the balance two years after the first liquidation.
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The Karnataka election results are out and there is a saffron surge across most constituencies. This has transformed the sentiment on D-Street from sluggish to super bullish. Investors lifted the Sensex by 400 points crossing 35,923, which was a level last achieved in January. While the counting was on, there were leads that showed BJP inching closer to a majority. Market watchers estimated tha... Read Full Article
Walmart, one of the biggest retail corporations in the world, has bought a major share of Flipkart, the Indian e-commerce giant. The deal is an official one and Walmart is paying about $16 billion for the 77% share that it is buying. The remaining share is retained by some of the old stakeholders including Binny Bansal, co-founder of Flipkart.
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