Walmart-owned Flipkart invests Rs 2,839 crore in India wholesale entity

Flipkart India, the wholesale entity of the Walmart-backed e-commerce company, has received Rs 2,838.84 crore from its Singapore-based parent entity, Flipkart. The investment comes at a time when the government is coming up with National E-commerce Policy that could have a huge impact on online retailers such as Flipkart and Amazon.

According to the company’s regulatory filings, Flipkart’s parent entity was issued 815,761 equity shares through a rights issue at a premium of Rs 34,799 per share. The board of directors of Flipkart India passed this resolution on November 28.

In September this year, Flipkart India received Rs 1,616 crore and in