MUMBAI (Reuters) - Wal-Mart Stores Inc (WMT.N) 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)
- Investment & Company Information
- Wal-Mart Stores Inc
- Registrar of Companies