Singapore-based Flipkart Marketplace has infused Rs 3,463 crore into the Indian entity Flipkart Internet in two tranches, according to regulatory filings sourced by data intelligence platform Paper.vc.
Singapore-based Flipkart Marketplace has infused Rs 3,463 crore into the Indian entity Flipkart Internet, according to regulatory filings sourced by data intelligence platform Paper.vc. Flipkart Marketplace has infused the money in two tranches. In the first tranche, the Singapore-based firm put in Rs 456 crore in lieu of 2.2 lakh shares and in the second tranche Rs 3,007 crore for 14.5 lakh shares in the Indian entity.
An email sent to Flipkart did not elicit any response till the time of going to press.
Prior to this, in FY18 Flipkart Internet had received two rounds of funds from the Singapore-based firm. In March this year, Flipkart Marketplace had pumped in Rs 370 crore in the firm and Rs 1.7 crore before that.
Flipkart competes against US-based Amazon in India. In August, Amazon infused a fresh capital of Rs 2,800 crore into two of its Indian business units. Amazon Seller Services — the e-commerce business — received Rs 2,700 crore while Amazon Retail got Rs 100 crore.
The infusion of fresh funds is part of the $5-billion commitment made by Amazon founder Jeff Bezos for the Indian market. With this, Amazon has till date invested Rs 25,220 crore ($3.84 billion).