Bigger India
Flipkart Singapore Pumps $305 M Into Its Indian Wholesale Unit
This is the third fund infusion into a Flipkart group company after US-based retail giant Walmart acquired a majority stake in Flipkart earlier this year.
Flipkart Private Ltd Singapore, the parent of Flipkart India Pvt Ltd, infused $305 million (Rs 2,190 crore) into the wholesale business unit of the group, according to a filing with the Registrar of Companies. This marks the third fund infusion by the parent in any subsidiary after its acquisition by US-based retail giant Walmart earlier this year, and takes the total investment to Rs 6105 crore. Walmart had, in May, announced it would acquire majority stake in Flipkart, valuing it at $21 billion.