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Last Updated : Jan 16, 2019 01:34 PM IST | Source: Moneycontrol.com

Flipkart India gets Rs 1,431 crore infusion from Singapore entity

Flipkart Singapore had earlier pumped Rs 2,190 crore into Flipkart India in December.

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Moneycontrol News 

Flipkart Singapore has infused Rs 1,431 crore into its Indian entity Flipkart India Pvt Ltd, according to documents of Registrar of Companies, sourced from data intelligence firm PaperVC.

The allotment happened on January 7.

A total of 4,86,861 lakh equity shares were allowed at a premium of Rs 29,399 per share.

It had earlier pumped Rs 2,190 crore into Flipkart India in December.

This comes at a time when the deadline for implementation of the new foreign direct investment (FDI) rules for the e-commerce sector nears.

Flipkart as well as Amazon have sought an extension of the deadline, stating that the regulation requires extensive overhauling of their business model.
First Published on Jan 16, 2019 01:30 pm
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