Wal-Mart adds $102.9 mn in Indian wholesale biz in June

The funds were allotted as share application money, the filing showed.

Wal-Mart Stores Inc has infused fresh funds worth rupees 620 crores (USD 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)

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