Flipkart co-founder Binny Bansal is in talks with Walmart over cash payouts after he resigned from Flipkart as chairman and group CEO last month, reported Mint.

According to his earlier contract, Bansal would have received cash from Walmart for over half of his 4-4.5 percent Flipkart stake that is worth more than $850 million after August 2020, the report said citing two people familiar with the matter.

However, after his abrupt exit, Bansal might receive a smaller payment of about $100 million, the report said.

Bansal and Walmart declined to comment to Mint on the story.

Walmart acquired about 77 percent of Flipkart in May, for nearly $16 billion in what was the US retail giant's largest-ever deal and a move to take on arch rival Amazon in a key growth market.

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First Published:Dec 19, 2018 8:45 AM IST