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PhonePe’s Valuation Is Now Rs. 50,000 Crore: Morgan Stanley
When Walmart had acquired Flipkart last year at a valuation of $21 billion, some eyebrows had been raised — it was felt that Walmart might have overpaid for the Indian e-commerce company, and could see its investment erode in the following years. But there are now indications that Walmart might not have done so poorly on the deal after all. PhonePe itself is worth $7 billion (Rs. 50,000 crore), a Morgan Stanley report has said....