Falling unicorn: Flipkart’s value drops from $15 billion to $11 billion

One of Morgan Stanley’s mutual funds has marked down by 27 percent the value of its investment in Flipkart, a high-flying Indian e-commerce firm. The mutual fund, called the Institutional Fund Trust Mid Cap Growth Portfolio, now values its stake in Flipkart at $103.97 per share, which reflects a valuation reduction from about $15.2 billion to $11 billion […]