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Walmart mentioned on Saturday at a filing using a US regulator that it could require India's Flipkart people in since four decades, inventing for the very first time an expected record deadline for Walmart's largest-ever acquisition.

The Bentonville-headquartered company said earlier this week it would invest $16 billion in Flipkart for a 77% stake, making it Walmart's biggest acquisition and the world's largest ecommerce deal. The Masayoshi Sonled, SoftBank group invested $2.5 billion in Flipkart in August past year through its $100 billion Vision Fund. Walmart is investing $2 billion (approximately Rs 134.78 crore) in cash and purchasing shares worth $14 billion ( approximately Rs 944 crore) from Flipkart's existing shareholders, the SEC filing said. Walmart announced earlier this week that it will pay $16 billion for a roughly 77% stake in Flipkart in what is the U.S. retail giant's largest-ever deal and a move to take on arch rival Amazon.com Inc.in a key growth market.

The investment implies a valuation of almost $21 billion for Bengaluru-headquartered Flipkart.

A statement issued by Walmart that day identified Flipkart co-founder Binny Bansal, Tencent Holdings Ltd, Tiger Global Management LLC and Microsoft Corp as the investors who would hold the remaining 23 per cent, implying SoftBank had agreed to sell its 20-22 per cent stake.

When he announced the deal, Walmart chief executive Doug McMillon had said he expected to close the transaction by the end of this calendar year. It will also constitute an eight-member board, of which five will be appointed by Walmart.

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For the first time, Walmart said the agreement also confers on it the right to seek an issue of a second tranche of fresh Flipkart shares "at any time after the closing of the transaction and on or before the first anniversary of the closing" for an aggregate purchase price of up to $3 billion.

The deal includes "customary termination rights for the parties, including, among others, by Walmart if the transactions have not closed by March 9, 2019". This gains significance because Japan's SoftBank Group, which owns a roughly 20% stake in Flipkart, was rethinking its exit due to tax liabilities and because it saw further value in Flipkart.

JAPAN'S SoftBank Group Corp has not yet made a decision to sell its 20-22 per cent stake in Flipkart to United States retailer Walmart Inc, sources with direct knowledge of the development said. This could take Walmart's stake to over 85 per cent. Softbank acquired a 20 percent stake for $2.5 billion (about Rs. 16,800 crores) in Flipkart through its Vision Fund a year ago, and the exit will give it $4 billion (approximately Rs. 27,000 crores).

Walmart will also have right to appoint or replace the chief executive officer and other principal executives of the Flipkart group of companies, subject to certain consultation rights of the board and the founder. Flipkart board will have eight directors, down from ten. The investment has nearly doubled, SoftBank CEO Masayoshi Son said on a post-earnings conference call.