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Flipkart invests ₹1431 cr fresh capital in wholesale arm

20
Jan '19
Courtesy: Flipkart
Courtesy: Flipkart
Flipkart India recently received ₹1,431 crore in fresh capital from its Singapore-based parent entity Flipkart Private Limited, which was issued 4.86 lakh shares in the former on January 7 at a price of ₹29,400 per share. The fund infusion comes days after the India issued clarifications on the foreign direct investment (FDI) policy for the e-commerce sector.

Flipkart India is the wholesale arm of the Walmart-owned e-commerce marketplace in India.

In December last, Flipkart had invested ₹2,190 crore in Flipkart India. Together, the two investments bring the total investment in Flipkart India to over ₹3,600 crore, according to a report in top Indian business daily.

Flipkart Internet, the marketplace entity of the company had received over ₹3,400 crore in September last year, ahead of its massive Big Billion Days festive sale. (DS)

Fibre2Fashion News Desk – India


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