Flipkart To Exit Flying Machine Parent In INR 135 Cr Deal

Once the transaction is complete, Flying Machine will become a wholly owned subsidiary of Arvind Fashion

Ecommerce major Flipkart invested in Flying Machine in 2020, when it bought a minority stake for INR 260 Cr

This adds on to Flipkart’s recent restructuring exercises in the run up to its IPO

Adding to its selling spree in recent months, ecommerce major Flipkart will now be selling its entire stake in clothing brand Flying Machine’s parent Arvind Youth Brands Pvt…