Ecommerce giant Flipkart’s valuation seems to be syncing with changing investor sentiment. This time, two mutual fund investors of Flipkart have marked down the value of their holdings in the company by 20%.
The two funds Fidelity Rutland Square Trust II, a mutual fund managed by Fidelity Investments and Valic Co. have marked down their stake in Flipkart by 20%.
Valic and Fidelity had picked up shares in Flipkart as a part of its series D round of funding in 2013, when Flipkart had raised $360 Mn in two tranches.
This is the second markdown from both the mutual funds. Earlier, Fidelity and Valic Co. had marked down their holdings in the company by 24% and 12% respectively in the previous quarter.
This time, around Fidelity has marked the value of its Flipkart shares at $82 per unit for the February ended quarter, down 21.1% from $103.97 per unit at the end of November 2015.
On the other hand, Valic Co. has marked the value of their Flipkart shares at $98.19 per unit for the February ended quarter, down 20.2% from $123.11 per unit at the end of November 2015.