Amazon invests Rs. 1,950 crore to expand business in India
In another attempt to bolster its India market, Amazon has freshly invested Rs. 1,950 crore in its local arm, Amazon Seller Services Pvt. Ltd. According to filings with the Registrar of Companies, Amazon Inc. and Amazon Corporate Holdings Pvt Ltd, its Singapore-based division, made the investment, reported The Economic Times. Read on for more.
Amazon has injected Rs. 4,850crore in India in three months
This comes two months after Amazon's India arm received Rs. 2,900 crore, its biggest funding so far. The latest move is in tune with the e-commerce giant's promised $5-billion investment to India, which founder Jeff Bezos committed to three years ago. Notably, Amazon Seller Services also recently almost-doubled its authorized share capital to Rs. 31,000 crore from Rs. 16,000 crore.
The ever-expanding behemoth
Amazon Seller Services, with its more than 250,000 registered sellers, is India's second largest company with respect to authorized capital. Reliance Jio, with a capital of Rs. 61,000 crore, is at the top, claims Capitaline, a database for Indian corporates. After the $5-billion investment, Amazon India would be the country's biggest only-equity-funded entity, with $4.7 billion just in equity.
