Reliance Industries Ltd said its retail arm had completed its fundraising exercise as more than half a dozen investors poured 472.65 billion rupees ($6.37 billion) into a 10.09% stake in the company in two months.
Multi-brand e-commerce giant Flipkart has launched its first fulfilment centre dedicated to groceries in Lucknow. The approximately 50,000-square-foot space is expected to create 500 direct jobs in the region.
TikTok-owner ByteDance is in early talks to raise a new round of financing that will value it at $180 billion (138.14 billion pounds) after the investment, according to two people familiar with the matter.
E-commerce giant Flipkart’s sales in the first week of the sale season are estimated to be close to double those of its closest competitor Amazon, as the retailer captured sales in tier 2 cities, according to RedSeer.
Walmart Inc’s Flipkart will buy a 7.8 percent stake in Aditya Birla Fashion and Retail Ltd for 15 billion rupees ($204 million), the fashion retail company said, sending its shares up 6 percent on Friday.