Walmart to raise $2-$3 billion for Flipkart valued at over $40 billion: Report

Walmart Inc-backed Flipkart is looking to expand its product range in India from $2 billion to $3 billion at a valuation of over $40 billion to challenge rivals, Mint reported on Tuesday. Told by citing two people with knowledge.

Walmart and Flipkart did not immediately respond to Reuters requests for comment.