Flipkart and Aditya Birla Fashion had announced the agreement in October 2020 in which Aditya Birla Fashion would be issuing a 7.8 percent stake to Flipkart on a preferential basis.
The company saw a seven percent decline in net loss from Rs 1,904 crore in FY19 to Rs 1,771 crore in FY20, according to Tofler.
The Centre has taken cognisance of various complaints made by the Confederation of All India Traders (CAIT) for blatant violation of FDI Policy and Foreign Exchange Management Act, 1999 (FEMA) by these companies
PhonePe raises Rs 150 crore from majority stakeholder Flipkart bringing its valuation to $5.5 billion
PhonePe currently has over 250 million registered users and competes with the likes of Paytm, GooglePay and WhatsApp Payments.
In unnamed funding round, Flipkart backed PhonePe raises fresh funds thereby taking its valuation to $5.5 billion.
E-commerce giant Flipkart sees not only a rise in revenue but also expenses for the financial year 2020.
Flipkart and Amazon record combined sale of $7.3 billion as online shopping gets a boost due to pandemic.
TikTok confirms proposed deal with Oracle, Walmart for US business; Donald Trump touts deal as 'fantastic'
The deal will lead to the creation of a new company, headquartered in Texas, that will have 'nothing to do with China' but will still be called TikTok, according to the president
Earlier in the day, TikTok's American CEO Kevin Mayer resigned from the post as a result of 'changes in the political environment'
The move comes amid India's efforts to single out Chinese-made products and cut down on their import.
Walmart International, which is present in nine markets including China, Japan, Mexico, the UK apart from India, saw sales growing by 3.4 percent to $29.76 billion in the January-March period, with e-commerce accounting for 9 percent sales.
Flipkart awaits advisories from states for resuming full services; Centre allows delivery of non-essential items by e-commerce platforms
Sales of non-essential items on e-commerce platforms in the first week of May, after sales of such items were allowed in green and orange zones, were lower than last year on account of the lockdown.
Startup community stares at fund crunch in absence of venture capital, reinvents businesses to survive economic slowdown
The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture capital are testing a start-up community that has quickly become one of the world’s biggest, raising a record $14.9 billion last year
Jio Platforms strikes third unit stake deal; raises $8 billion in two weeks post-Facebook, Silver Lake, Vista investment
Unlike traditional mobile carriers which depend on voice services to make money, Ambani has pitched Jio as a trailblazer tech company by offering cheap mobile data plans that helped hundreds of millions of Indians use the internet for the first time
Flipkart appoints new chief financial officer; Sriram Venkatraman succeeds Emily McNeal, takes charge today
Walmart-owned Flipkart on Tuesday said it has appointed Sriram Venkataraman as the Chief Financial Officer for Flipkart Commerce (Flipkart and Myntra) with immediate effect
Facebook invests $5.7 billion in Reliance Industries Jio Platforms; plans digital services for Indian grocers
The deal for 9.99 percent of Jio Platforms, which houses the telecoms unit Jio Infocomm as well as other news, movie and music apps, gives Jio Platforms an enterprise value of about $66 billion, Reliance said.
Garment exporter Bangladesh, second-largest after China, faces $6 bn hit as world retailers cancel orders
Low wages have helped Bangladesh build its garment industry, with some 4,000 factories employing 4 million workers.
Flipkart, along with rival Amazon India's Pantry service, were suspended temporarily on Wednesday morning as India entered into a 21-day lockdown to contain the spread of Covid-19 pandemic.
Walmart India on Wednesday said it has elevated Sameer Aggarwal as its CEO and the appointment will be effective from 1 April