Wal-Mart adds $102.9 mn fresh funds into Indian business in June

Written by Reuters | Mumbai | Updated: Jul 21 2014, 14:56pm hrs
Wal-MartWal-Mart runs 20 wholesale stores in India and plans to roll out 50 more over 4-5 years.
Wal-Mart Stores Inc has infused fresh funds worth 6.2 billion rupees ($102.9 million) into its Indian wholesale business in June, according to a filing made by its Indian unit to the Registrar of Companies.

The funds were allotted as share application money, the filing showed.

Wal-Mart runs 20 wholesale stores in the country and plans to roll out 50 more over four to five years. The retailer has already launched its e-commerce operations, to sell to small businesses, in the cities of Lucknow and Hyderabad earlier this month.