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Amazon Seller Services, the American retailer’s marketplace unit of India, has received a capital of ₹915 crore, meant to help the unit aggressively compete with the likes of Flipkart and JioMart. The investment was made by Singapore-based Amazon Corporate Holdings and the parent company Amazon Inc, against a combined 915 million equity shares of ₹10 each.Amazon Corporate Holdings received 91,49,57,723 shares, while 42,277 shares were allotted to Amazon Inc as part of the transaction, said media reports quoting documents filed with the corporate affairs ministry.
Amazon had invested ₹2,310 crore in Amazon Seller Services last year after the lockdown ended and this is the first investment by the e-retailing giant in India this year. The company is looking to strengthen its position in the Indian marketplace.
Fibre2Fashion News Desk (KD)
Amazon Seller Services, the American retailer's marketplace unit of India, has received a capital of ₹915 crore, meant to help the unit aggressively compete with the likes of Flipkart and JioMart. The investment was made by Singapore-based Amazon Corporate Holdings and the parent company Amazon Inc, against a combined 915 million equity shares of ₹10 each.