Wal-Mart adds $102.9 million in Indian wholesale business in June

MUMBAI Mon Jul 21, 2014 8:00am IST

Customers shop inside a Best Price Modern Wholesale store at Zirakpur in Punjab November 24, 2012. REUTERS/Ajay Verma/Files

Customers shop inside a Best Price Modern Wholesale store at Zirakpur in Punjab November 24, 2012.

Credit: Reuters/Ajay Verma/Files

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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)

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