Myntra Receives $125 Mn From Parent Entity

Fashion ecommerce giant myntra has received ₹1,062.5 Cr (about $124 Mn) from its Singapore-based parent company, FK Myntra Holdings.

According to filings with the Registrar of Companies, Myntra’s board approved the allotment of 19.43 lakh equity shares to FK Myntra Holdings on April 29, at ₹1 face value and a premium of ₹5,465.23 per share, through a rights issue.

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This comes just a few months after reports said flipkart invested $81 million in Myntra in November 2024. Earlier, in March 2024, Myntra had also received $339 million from Flipkart.

About Myntra 

Myntra was founded in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena, Myntra is an online platform where third-party sellers offer fashion items like clothes and accessories. Based in Bengaluru, Myntra was acquired by Flipkart for $240 million in 2014.

The recent funding boost comes as Myntra rapidly expands its operations. The company became profitable in FY24, reporting a net profit of Rs 30.9 Cr, a big turnaround from a Rs 782.4 Cr loss in the previous year.

This improvement was driven by a 15% increase in revenue, which grew to Rs 5,121.8 Cr in FY24 from Rs 4,465 Cr in FY23.

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