+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Walmart-owned Flipkart invests ₹28.3 billion into its India unit

Dec 3, 2019, 18:21 IST
Business Insider India
  • Flipkart has raised ₹28.3 billion from its Singapore-based parent entity, as per filings sourced by paper.vc.
  • A premium of ₹34,799 was paid per share.
  • This year, Flipkart had already received two fund infusions – $225.4 million in August and $200 million in January.
Advertisement
Indian e-commerce giant Flipkart has raised ₹28.3 billion from its Singapore-based parent entity, as per filings sourced by paper.vc. And this money was raised at a premium of ₹34,799 per share.

“This is the largest fund transfer from its parent to its Indian operating entity in 2019. The previous two fund infusions being $225.4 million in August and $200 million in January,” said a statement from data intelligence firm paper.vc.

While the details for the infusion of capital from its parent entity which is named -- Flipkart Private Limited,Singapore -- are not yet known, Flipkart has been ramping up it efforts in the Indian e-commerce space.

It has been taking up various efforts like expanding its e-commerce presence to Tier 2,3 cities and beyond. It also launched a Hindi version of its app to reach out to the next 200 million internet users.

Flipkart had also launched an OTT platform for video content in October. For this, it partnered with production houses to create for original content on the platform.

Advertisement

Flipkart which is one of India’s largest e-commerce platforms was acquired by Walmart in 2018. Walmart’s acquisition of Flipkart for $16 billion was one of the world’s biggest e-commerce deals.

See Also:
EasyRewardz has raised series B round of funding led by Flipkart
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article