Flipkart eyeing exit from Aditya Birla Fashion and Retail via block deal route

Top e-commerce platform Flipkart is planning to dilute its entire stake of 6 per cent in Aditya Birla Fashion and Retail through the block deal route, multiple industry sources in the know told Moneycontrol .

The stake is held by an entity named Flipkart Investments Private Ltd and investment bank Goldman Sachs is acting on the proposed clean out trade which has been launched, these sources added.

Flipkart and Goldman Sachs couldn't be reached for an immediate comment.

The floor price of the block deal is likely to be Rs 79.5 per share which represents a 7.6 percent discount to the last closing price and the offer size is around $68 million, sources told Moneycontrol.