Wal-Mart adds $102.9 million in Indian wholesale business in June
MUMBAI (Reuters) - Wal-Mart Stores Inc has infused fresh funds worth 6.2 billion rupees ($102.9 million) into its Indian wholesale business in June, according to a filing made by its Indian unit to the Registrar of Companies.
The funds were allotted as share application money, the filing showed.
Wal-Mart runs 20 wholesale stores in the country and plans to roll out 50 more over four to five years. The retailer has already launched its e-commerce operations, to sell to small businesses, in the cities of Lucknow and Hyderabad earlier this month.
($1 = 60.2800 Indian Rupees)
(Reporting by Nandita Bose; Editing by Michael Perry)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Islamic State militants said they had beheaded a second Japanese hostage, journalist Kenji Goto, prompting Prime Minister Shinzo Abe to vow to step up humanitarian aid to the group's opponents in the Middle East and help bring his killers to justice. Full Article | Video