A mutual fund managed by Morgan Stanley has marked down the value of its holding in Flipkart for the fifth straight quarter, valuing the e-commerce major at USD 5.37 billion.
In a regulatory filing with the US Securities and Exchange Commission, Morgan Stanley Institutional Fund Trust has valued each share of Flipkart Online Services Pvt. Ltd at roughly $50.51 apiece, down from $52.13 a share during the September quarter.
"In March, we will be in an extremely good growth momentum, going back to 40% year-on-year growth and then accelerating over the next year," Binny Bansal said in an interview in December.
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