Flipkart Internet secures Rs 3,248.9 crore investment from Singapore based parent company

Flipkart’s marketplace arm Flipkart Internet has received Rs 3,248.9 in internal funding from its Singapore based parent company Flipkart Marketplace Private Limited through an issue of equity shares on a rights issue basis. 

The board of Flipkart issued a total of 470,772 equity shares at a price of Rs 69,013.7 per share on a rights issue basis, according to its filing at the Registrar of Companies, ET Retail reported. This fundraising from Flipkart Marketplace Private Limited in Singapore follows on from its infusion of Rs 1,421 crore into Flipkart Internet over the course of two tranches in March and April 2024. 

The 2024 financial year saw Flipkart Internet report a revenue total of Rs 17,907.3 crore which was a 21% year on year increase compared to its 2023 performance, the Economic Times reported. The business also reduced its losses by 41% over the 2024 fiscal year to total Rs 2,358 crore and both its marketplace income and collection services revenue rose.

As Flipkart Internet manages Flipkart’s e-commerce marketplace, its main revenue comes from seller commissions along with other seller services and advertising. Flipkart plans to launch an initial public offering in India in the coming 12 to 15 months and is making moves towards this end.