Walmart pumps $3.5 billion in Flipkart to increase its stake

 
Team Blitz India

NEW DELHI; Retail giant Walmart has increased its stake in Indian e-commerce subsidiary Flipkart as it paid $3.5 billion (around Rs 28,953 crore) to acquire shares from its non-controlling interest holders in six months to July 31, 2023. Additionally, during the six months ending July 31, Flipkart received $700 million related to new rounds of equity funding.