Wal-Mart adds $102.9 mln in Indian wholesale business in June
MUMBAI, July 21
MUMBAI, July 21 (Reuters) - Wal-Mart Stores Inc 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)
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