India, Dec. 29 -- Adding to its selling spree in recent months, ecommerce major Flipkart will now be selling its entire stake in clothing brand Flying Machine's parent Arvind Youth Brands Pvt Ltd (AYBPL) to Arvind Fashion.

In an exchange filing today, Arvind Fashion said that it will acquire Flipkart's shareholding in the subsidiary, 31.25% to be precise, comprising of 1 equity share of INR 10 each and 58.96 Compulsory Convertible Preference Shares (CCPS) of INR 100 for an aggregate of INR 135 Cr.

Once the transaction is complete, AYBPL will become a wholly owned subsidiary of Arvind Fashion. Important to highlight that the Walmart-owned ecommerce major invested in Flying Machine in 2020, when it bought a minority stake for INR 260 Cr t...