Business Standard

Ahead of the festive sale, Amazon pumps Rs 1,125 crore into its India unit

The infusion would help the e-commerce giant to take on its rivals including Walmart-owned Flipkart and Reliance's JioMart in the upcoming festive season

Amazon
Premium

This month Amazon and private equity firm Samara Capital also jointly invested over Rs 275 crore in Witzig Advisory Services, holding firm of the More supermarket chain.

Peerzada Abrar Bengaluru
Amazon has invested Rs 1,125 crore into its India marketplace unit. The infusion would help the e-commerce giant take on its rivals, including Walmart-owned Flipkart and Reliance’s JioMart, in the upcoming festive season.

The company’s online marketplace arm, Amazon Seller Services Private Limited, has received the infusion from Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius, according to the documents filed by Amazon, which were sourced from business intelligence platform Tofler. The infusion was done by allotting 1125 million equity shares to the investors at a nominal amount per share of Rs 10.

According to analysts, this

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 29 2020 | 5:32 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com