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On the retail road: Amazon infuses Rs 240 crore into India grocery unit

This follows the board's earlier decision to hike authorised share capital

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3 min read Last Updated : Mar 30 2019 | 9:48 PM IST

Amazon.com Inc, the world largest e-commerce company, has infused Rs 240 crore in Amazon Retail India (ARIPL), one of its units in India that manages the supply of grocery and food items, as it looks to double down on the segment in the coming months.

ARIPL has received the fund from Amazon Corporate Holdings, the holding entity registered in Singapore, and US-registered parent entity Amazon.com Ltd, according to company filings sourced from Paper.vc, a business intelligence platform. The infusion is against an allotment of 240 million equity shares of face value Rs 10 each. The entity has so far received Rs 115 crore from Amazon.

Last week, Amazon Retail’s filings with the corporate ministry showed that the firm had increased its authorised share capital to Rs 355.5 crore from Rs 165.5 crore earlier, through an extraordinary general meeting this month.