An annual financial report filed states that the Naspers has made an investment of Rs 458 crore in order to increase its stake in Flipkart up to 16%.
The report filed by Naspers also says that the investment was made in the month of April and the shares were bought by existing investors but the detail of investors is not disclosed.
The groups Indian retail associate, Flipkart, remains a large opportunity, with market estimates expecting the online retail market in India to reach $50 billion by 2020 Naspers stated in its report.
Naspers estimates that the Flipkart shares value fell down to 45% in June 2016 but increases to 55% in March 2017.
Naspers form a group of Flipkart, PayU and MakeMyTrip, and state that these companies will reach their full potential in 3-5 years.
Naspers said, Flipkart, remains a large opportunity, with market estimates expecting the online retail market in India to reach $50 billion by 2020.
The group now has 21 profitable businesses in e-commerce, excluding those disposed of during the year, delivering $699 million in revenue and $229 million in trading profits, report revealed.