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Home / Business / Amazon infuses Rs 2,310 crore into one of its India units

Amazon infuses Rs 2,310 crore into one of its India units

In January this year, Amazon founder Jeff Bezos had announced $1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online
Amazon Corporate Holdings and Amazon.com.inc have made the investment in the unit, documents filed with the corporate affairs ministry showed.

PTI   |   New Delhi   |   Published 08.07.20, 04:32 AM

US-based e-commerce giant Amazon has infused fresh capital to the tune of Rs 2,310 crore into one of its India units, Amazon Seller Services, according to regulatory documents.

Amazon Corporate Holdings and Amazon.com.inc have made the Rs 2,310 crore investment in the unit, documents filed with the corporate affairs ministry showed.

The board of directors of Amazon Seller Services passed the resolution at their meeting on June 25, 2020.

E-mails sent to Amazon India seeking comments on the fund infusion did not elicit a response.

According to financial data accessed by business intelligence platform Tofler, a significant share of the funds (Rs 2,309.8 crore) came from Amazon Singapore. The fresh funds will provide more arsenal to Amazon in India as the company has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.

In January this year, Amazon founder Jeff Bezos had announced $1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online.

Previously, the online retail giant had committed $5.5 billion investments in India, Amazon’s most important market outside of the US and a key growth driver.

The board of Amazon Seller Services had passed a resolution in January this year to allot shares worth about Rs 2,208 crore to Amazon Corporate Holdings and Amazon.com Inc.  

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