India: Flipkart said to raise $1b with plans for $1b more

India: Flipkart said to raise $1b with plans for $1b more

The Flipkart delivery process. Photo: Bloomberg

Flipkart Online Services Pvt Ltd has completed a $1 billion fundraising and aims to raise as much as $1 billion more over the next few months, according to people familiar with the matter, giving India’s largest e-commerce company capital to battle back against rising competition.

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