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Flipkart receives $382 Mn from parent entity

Entrackr

Entrackr · 3m ago

Flipkart receives $382 Mn from parent entity

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.

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Related News

Flipkart receives another $262 Mn from Singapore-based parent

Entrackr

Entrackr · 1m ago

Flipkart receives another $262 Mn from Singapore-based parent

Flipkart receives another $262 Mn from Singapore-based parent Flipkart Internet (India), the marketplace arm of the Walmart-owned firm, has received another $262 million (Rs 2,225 crore) in internal funding from its Singapore-based parent entity. This comes nearly two months after Flipkart Internet received $382 million from its Singapore-based parent company. The board at Flipkart has allotted equity shares worth Rs 2,225 crore to Flipkart Marketplace Private Limited (Singapore), its multiple filings accessed from the Registrar of Companies (RoC) show. This follows around the same time Flipkart’s fashion platform Myntra India received $125 million from its Singapore-based parent, FK Myntra Holdings. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. It is shifting its Domicile from Singapore to India, joining Pine Labs, Zepto, Meesho, and Razorpay in relocating their headquarters back to their home country. According to startup data intelligence platform TheKredible, Walmart owns 85% of Flipkart Internet, which includes its affiliates PhonePe and Myntra. Other shareholders include Tencent, CPP Investments, GIC, SoftBank, and Microsoft. Flipkart is currently valued at $36 billion. For the fiscal year ended 2024, Flipkart reported a 20% growth in operating revenue to Rs 17,907 crore, while reducing its losses by over 41% to Rs 2,359 crore during the same period.

Myntra Design receives $125 Mn from parent entity

Entrackr

Entrackr · 1m ago

Myntra Design receives $125 Mn from parent entity

Myntra Design, a fashion e-commerce platform owned by Flipkart and operated in India, secured Rs 1,062.5 crore or $125 million from its Singapore-based parent company FK Myntra Holdings. Prior to this, Flipkart infused $81 million in Myntra’s holding entity in Singapore. The board at Myntra allotted 19,43,753 equity shares at an issue price of Rs 5,466 each on a right issue basis to raise the aforementioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. This development comes at a time when e-commerce platforms are facing intense competition, further heightened by the re-entry of Chinese fashion brand Shein into the Indian market through Reliance Retail. Flipkart acquired Myntra in 2014 for $240 million. The fashion e-commerce major turned profitable in the fiscal year ending March 2024, reporting a profit of Rs 30.9 crore—a significant turnaround from a massive loss of Rs 782.4 crore in FY23. During the same period, its revenue from operations surpassed Rs 5,100 crore. In November 2024, Myntra entered the quick commerce space with the introduction of its new feature, M-Now to deliver fashion and beauty products in just 30 minutes to 2 hours to compete with other major players in the space including Zepto, Blinkit, Instamart. Flipkart also joins the likes of Pine Labs, Razorpay, Meesho who are relocating their domicile to India ahead of their public listing.

Flipkart Internet gets ₹1,421 crore from Singapore-based parent

Inshorts · 1y ago

Flipkart Internet gets ₹1,421 crore from Singapore-based parent

Flipkart Internet, the Indian arm of the e-commerce company, has received ₹1,421 crore (around $171 million) from its Singapore-based parent entity, as per regulatory filings. This internal cash transfer happened in two tranches. Flipkart Internet also received around ₹924 crore (about $111 million) from its related entities in Singapore in January.

Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm

Economic Times

Economic Times · 1y ago

Flipkart Singapore parent infuses Rs 1,421 crore in marketplace arm

Walmart-owned Flipkart has infused Rs 1,421 crore (around $170 million) in its Indian marketplace entity, Flipkart Internet, through its Singapore holding company. This is not new funding but an internal cash transfer. It is the second major fund infusion received by Flipkart Internet from its Singapore-based entities this year. The latest funding takes the total infusion in the marketplace entity to $281 million. Flipkart aims to launch its quick-commerce service and has been working on faster deliveries, including same-day delivery in several cities. Meanwhile, Amazon India has also received funds exceeding Rs 1,000 crore from its US parent company.

Flipkart Internet receives Rs 3,249 crore infusion from Singapore parent

Economic Times

Economic Times · 3m ago

Flipkart Internet receives Rs 3,249 crore infusion from Singapore parent

Flipkart Internet, the marketplace division of Walmart-owned Flipkart, received a Rs 3,248.9 crore infusion from its Singapore-based parent through a rights issue of equity shares. This follows previous funding rounds totaling Rs 2,345 crore in 2024. In FY24, Flipkart Internet reported a 21% revenue increase to Rs 17,907.3 crore and narrowed losses by 41% to Rs 2,358 crore. The company is preparing for an IPO and expanding into the quick commerce sector with its ‘Minutes’ service.

Flipkart Internet receives $111 million in new fund infusion

Economic Times

Economic Times · 1y ago

Flipkart Internet receives $111 million in new fund infusion

Flipkart Internet, the marketplace arm of Flipkart backed by Walmart, received a cash injection of approximately INR 924 crore ($111 million) from its Singapore-based entities in January 2023. This comes as Amazon continues to invest in its Indian entities, crossing INR 1,000 crore ($134 million) this year. Flipkart is also in talks to raise up to $1 billion, with parent company Walmart committing to invest $600 million. Flipkart's valuation is expected to be around 5-10% higher than its previous valuation of $33 billion. In the fiscal year 2023, Flipkart Internet reported a 42% increase in operating revenue and a 9% decrease in total loss.

GlobalBees Bags $17 Mn Debt Funding From Avendus

Inc42 · 1y ago

GlobalBees Bags $17 Mn Debt Funding From Avendus

GlobalBees, a Softbank-backed ecommerce rollup startup, has raised INR 140 Cr ($17 Mn) in a debt funding round from Avendus. The funds will be used for working capital needs. GlobalBees invests in and acquires companies that sell products on platforms like Amazon India and Flipkart. With a gross revenue of INR 550 Cr in Q3 FY24, GlobalBees aims to partner with companies in niche categories like FMCG, sports, home organization, and lifestyle. It has raised a total of $175 Mn in funding and competes with Mensa Brands, Evenflow, and GOAT Brand Labs. The funding follows parent entity FirstCry's draft red herring prospectus filing for INR 1,816 Cr IPO.

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Inc42 · 1y ago

Flipkart Internet Rakes In $111 Mn From Singapore Entities

Amazon India's marketplace business, Amazon Seller Services, has received INR 830 crore ($111 million) from its US parent company. Flipkart's marketplace arm, Flipkart Internet, has also received a cash infusion of around INR 924 crore ($111 million) from its related entities in Singapore. These capital injections come as Flipkart is reportedly seeking to raise $1 billion in funding, with $600 million committed by Walmart. Flipkart's Big Billion Days sale event in October 2023 saw a record-breaking 1.4 billion customers visit. Meanwhile, Amazon Seller Services has received INR 830 crore from its US parent.

Flipkart Valuation Declines Over INR 41,000 Cr In Two Years

Inc42 · 1y ago

Flipkart Valuation Declines Over INR 41,000 Cr In Two Years

Flipkart's valuation has decreased by $5 billion (INR 41,432 crore) from January 2022 to January 2024, according to equity transactions by parent company Walmart. This decline is attributed to the demerger of fintech firm PhonePe into a separate entity. The current valuation of Flipkart is estimated to be between $38-40 billion, contrary to the reported $35 billion. Flipkart's gross merchandise value (GMV) has seen significant growth, ranging from 25-28% year-over-year, reaching $29-30 billion in 2023. Meanwhile, Flipkart India Private Ltd reported a 9% rise in operating revenue but a 1.4X increase in net loss in FY23.

Flipkart Internet Gets INR 1,421 Cr From Singapore Parent Entity

Inc42 · 1y ago

Flipkart Internet Gets INR 1,421 Cr From Singapore Parent Entity

Flipkart India has received INR 1,421 Cr (around $170 Mn) in funding from its Singapore parent, marking the second major fund infusion into the company. The transfer was completed in two tranches, on March 23 and April 6. This funding brings the total infusion received by Flipkart India to $281 Mn. The company has been focusing on expanding its offerings, including plans to venture into the quick-commerce space and opening dark stores in multiple cities. Flipkart has also launched a bus booking facility on its app, expanding its travel services. However, its valuation has dropped by $5 Bn due to the demerger of PhonePe into a separate entity.

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