Burger Singh Refutes Reports Of Rs 47 Cr Fundraise
The company says that the reports rely on an MGT-14 filing with the Ministry of Corporate Affairs (MCA), a standard regulatory form that allows them to offer shares to potential investors
The company says that the reports rely on an MGT-14 filing with the Ministry of Corporate Affairs (MCA), a standard regulatory form that allows them to offer shares to potential investors
The company is also expanding its physical footprint with upcoming flagship stores in four additional cities, including Gurugram and Mumbai
The fund will be utilised in scaling its 100-minute delivery and try-at-home service for urban consumers
The proposed initial public offering (IPO) includes a combination of fresh issuance of shares worth Rs 800 crore and offer-for-sale (OFS) of 48.5 million shares by existing shareholders
The funding will be used to accelerate platform development, scale its product and engineering team, and onboard more brand partners across the globe
The floor price for the OFS shall be Rs 175 per equity share, the company informed in an exchange filing
The reports emphasised that the details of the parties involved in the transaction are yet to be made public
The report notes that this is to partially fund the equity investment required by the company for its 40 per cent stake purchase in Coca-Cola’s Indian bottling unit
The report states that Flipkart may start the lending operations in a few months
The report notes that Flipkart Investments has sold its entire six per cent stake in ABFRL through block deals, amounting to Rs 583 crore