4 days ago
- Business
- Business Standard
Myntra raises ₹1,062 cr from parent firm in fresh capital infusion
The Flipkart-owned platform eyes growth in Singapore and beyond, posts Rs 30.9 crore profit in FY24, and readies for its flagship sale event starting May 31
Peerzada Abrar
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Myntra, the online fashion platform owned by Walmart-backed Flipkart Group, has secured Rs 1,062.5 crore in fresh funding from its Singapore-based parent entity, FK Myntra Holdings Pvt Ltd, according to regulatory filings reviewed by business intelligence platform Tofler.
As part of the capital infusion, Myntra issued approximately 1.94 million shares, each with a face value of Rs 1 and a premium of Rs 5,465.23 per share.
The development comes at a time when the company is scaling up its operations in India and overseas. Myntra recently forayed into the international market with the launch of Myntra Global, marking its first
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