Flipkart India raises Rs 1,431 cr from parent firm
New Delhi: Flipkart India, the wholesale arm of Walmart-owned e-commerce company Flipkart, has received about Rs 1,431 crore from its Singapore-based parent, according to documents filed with the Corporate Affairs Ministry.
The parent entity was issued 4.86 lakh shares in Flipkart India at a price of about Rs 29,400 per share, the documents showed.
Flipkart had invested Rs 2,190 crore in Flipkart India in December last year. The latest fund infusion comes at a time when Flipkart faces challenges on the regulatory front in the form of new policy norms for e-commerce firms with foreign investment.