Exclusive: Myntra Gets Fresh Infusion Of INR 492 Cr Ahead Of Festive Season
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India, Sept. 24 -- Flipkart-owned fashion ecommerce platform Myntra has received fresh capital infusion of INR 492 Cr from its parent ahead of the festive season sales.
As per the regulatory filings accessed by Inc42, Myntra Jabong India Private Limited will be allotting 7,08,025 equity shares to its Singapore-based parent company FK Myntra Holdings for INR 455 Cr.
The ecommerce platform has also allotted 58,195 equity shares to Quickroutes International Private Limited for INR 37.40 Cr, thus taking the total infusion to INR 492 Cr.
The fresh infusion comes at a time when Myntra is gearing up for its 'Big Fashion Sale' which is scheduled between October 7 and October 13, 2021.
Bengaluru-based Myntra was founded by Mukesh Bansal, Ashut...
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