While Negotiating Merger Terms With Flipkart – Snapdeal Made $5.7 Mn Investment In Vulcan Express

While Negotiating Merger Terms With Flipkart – Snapdeal Made $5.7 Mn Investment In Vulcan Express

SUMMARY

Snapdeal Is Looking To Sell Vulcan Express For $18 Mn; Sale To Take Place In One Month

Vulcan Express, the logistics arm of Snapdeal, secured a $5.68 Mn (INR 36.5 Cr) investment from its parent company Jasper Infotech in June this year. The investment was finalised at a board meeting on July 5, 2017.

As per RoC filings, the amount was raised against the allocation of 36.5 Mn equity shares at a face value of INR 10.

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