Flipkart Internet Secures USD 262 Mn in Fresh Internal Funding from Parent Entity
The funding comes amid Flipkart's plans to shift its domicile from Singapore to India and prepare for a much-anticipated IPO, which media reports suggest could value the company between USD 60 billion and USD 70 billion.
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Flipkart Internet (India), the marketplace arm of Walmart-owned Flipkart, has secured USD 262 million (approximately INR 2,225 crore) in fresh internal funding from its Singapore-based parent, according to filings sourced by Entrackr.
This follows a USD 382 million infusion just two months ago, marking continued capital support as the e-commerce giant gears up for a major strategic shift.
The company's board has approved the allotment of equity shares worth INR 2,225 crore to Flipkart Marketplace Private Limited (Singapore), as per documents filed with the Registrar of Companies. Around the same time, its fashion subsidiary Myntra received USD 125 million from its parent firm FK Myntra Holdings.
The funding comes amid Flipkart's plans to shift its domicile from Singapore to India and prepare for a much-anticipated IPO, which media reports suggest could value the company between USD 60 billion and USD 70 billion. Flipkart joins a growing list of Indian startups, including Pine Labs, Zepto, Meesho, and Razorpay, in relocating headquarters to India.
Walmart currently owns 85% of Flipkart Internet, which includes Myntra and PhonePe. Other key stakeholders include Tencent, CPP Investments, GIC, SoftBank, and Microsoft. Flipkart's current valuation stands at USD 36 billion.
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