
Tata Sons invests INR 750 crore for Croma expansion


Infiniti retail increased its share capital from 1crore to 2crore to issue brand new equity to Tata groups. The company claims to have plans for faster expansion across the country. It accordance with this it is to make significant investment in ecommerce and digital solutions to boost the user experience and operation efficiency.
Infiniti marked the pride of launching 22 Croma stores last year which is said to be the highest in any financial year, aided by the introductions to goods and service tax and shift to digital payments taking the total number of outlets to 130, reports ET.
The company’s financials for 2018-19 stated that revenue operations increased 22% to Rs 4,587.71crore. The article by ET stated that the country's second largest electronics and smartphone retailer’s net profit surged at a faster pace to Rs 196.85crore from Rs 16.7crore in FY18 when it had also raked its maiden profit.
Reliance Retail, owned by Mukesh Ambani being the largest retailer and closest competitor to Croma is far ahead in sales. Its retailing business through Reliance digital and Relaince Jio hit 39,170 crores in the year 2019 from Rs 15,154crore in the year 2018.
In last fiscal year, Infiniti raised Rs 250crore from Tata sons which was the largest capital to the company and this was followed by two successive investment of 50crore.
The company reported, “Besides, with the expected infusion of additional equity, the present authorized share capital may not be adequate and therefore it plans to increase it to Rs 2,000crore from Rs 1,000crore now.”
The company’s financials for 2018-19 stated that revenue operations increased 22% to Rs 4,587.71crore. The article by ET stated that the country's second largest electronics and smartphone retailer’s net profit surged at a faster pace to Rs 196.85crore from Rs 16.7crore in FY18 when it had also raked its maiden profit.
Reliance Retail, owned by Mukesh Ambani being the largest retailer and closest competitor to Croma is far ahead in sales. Its retailing business through Reliance digital and Relaince Jio hit 39,170 crores in the year 2019 from Rs 15,154crore in the year 2018.
In last fiscal year, Infiniti raised Rs 250crore from Tata sons which was the largest capital to the company and this was followed by two successive investment of 50crore.
The company reported, “Besides, with the expected infusion of additional equity, the present authorized share capital may not be adequate and therefore it plans to increase it to Rs 2,000crore from Rs 1,000crore now.”