Amazon has infused Rs 4,472 crore ($635 million) in three of its Indian subsidiaries to expand operations.
‘Amazon Corporate Holdings’ and ‘Amazon.com.incs Ltd’ are pumping in Rs 3,400 crore in ‘Amazon Seller Services’, Rs 900 crore in Amazon Pay India, and Rs 172.5 crore in Amazon Retail India, according to regulatory filings made to the Corporate Affairs Ministry.
On October 14, the Amazon Corporate Holdings Ltd board had allotted 340 crore shares of Rs 10 face value, aggregating to Rs 3,400 crore to Amazon Seller Services Ltd on rights basis through a resolution.
Amazon has registered cumulative losses of over Rs 7,000 crore across various units in 2018-19. The fresh funding is intended to boost Amazon’s confidence in the Indian market, experts say.
Founder Jeff Bezos had committed investment worth $5 billion in the Indian market in 2016.