Flipkart Internet, the marketplace arm of Walmart-backed Flipkart, has received Rs 3,249 crore (approximately $382 million) in internal funding from its Singapore-based parent entity.
Earlier, in April 2024, the company had secured Rs 1,421 crore from the same parent organization.
The board at Flipkart has issued 470,773 equity shares at an issue price of Rs 69,014.7 each on a right issue basis to raise Rs 3,249 crore from Flipkart Marketplace Private Limited (Singapore), its regulatory filing accessed from the Registrar of Companies (RoC) shows.
In May last year, Flipkart raised $350 million from Google at a valuation of $36 billion.
According to startup data intelligence platform TheKredible, Walmart is the largest stakeholder in the e-commerce company holding 85% stake, followed by Tencent and other minority shareholders including CPP Investments, GIC, SoftBank and Microsoft.
Apart from horizontal e-commerce offerings, Flipkart also entered the quick commerce space with Minutes, promising deliveries within 10-15 minutes to compete with players like Blinkit, Zepto, and Instamart.
For the fiscal year ended 2024, Flipkart reported a 20% increase in operating revenue to Rs 17,907 crore, while reducing its losses by over 41% to Rs 2,359 crore during the same period.