Flipkart, India’s largest online retailer is aiming to cut its monthly expenditure by half as it prepares to raise fresh capital of Rs 3,400-5,400 crore ($500-800 million).

As per the sources, the company could settle for a valuation of $10-12 billion.

They said that “the final valuation could change depending on investor interest and terms of the deal.”

They also estimates that the company will trim its monthly burn rate to about $20 million from about $45 million.

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