Flipkart Internet Receives Rs 3,249 Cr From Parent Entity

 Flipkart Internet, the marketplace arm of Walmart-backed Flipkart, has received Rs 3,249 crore (about $382 million) from its Singapore based parent company, according to regulatory filings with the Registrar of Companies (RoC).

The funding was raised through a rights issue, with Flipkart issuing 470,772 equity shares at Rs 69,013.7 per share to Flipkart Marketplace Private Limited in Singapore.

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This follows previous investments, including Rs 1,421 crore in March and April last year and Rs 924 crore in January 2024 from related Singapore-based entities.

Flipkart Internet manages the company's marketplace operations in India, earning revenue from seller commissions, advertising and other services.

The company is also preparing for an IPO in India within the next 12-15 months. Additionally, Flipkart has entered the quick commerce space with Minutes, offering 10-15 minute deliveries to compete with Blinkit, Zepto and Instamart.

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