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.
Baripada: A newborn girl was found lying near a bush at Bhanra village under Karanjia…
Mumbai: Salman Khan and Shah Rukh Khan, the leading superstars of Bollywood, came from different…
Mumbai: Actor-filmmaker Dhanush took to his X handle on Friday to announce the release date…
Chennai: Odisha all but booked a berth in the knockout stage of the 14th Hockey…
Cuttack: Several traffic restrictions have been imposed to ensure smooth movement of devotees to Dhabaleswar…
Mumbai: Sidhu Moose Wala's parents Balkaur Singh and Charan Kaur shared a picture of their…
New York: A group of American women has launched an unprecedented protest against men who…
Bhubaneswar: Four more handicrafts were granted approval by the Odisha government, taking the total number…