Amazon Invests Rs.4,472 Crore In Three Indian Subsidiaries

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With an aim to expand its operations in India, Amazon has recently invested Rs. 4,472 crore in three of its Indian subsidiaries, reports IANS. According to the regulatory filings, the company has invested Rs. 3,400 crore in Amazon Seller Services, Rs. 900 crore in Amazon Pay in India, and Rs 172.5 crore in its Retail business in the country.

Amazon Invests Rs.4,472 Crore In Three Indian Subsidiaries

 

"Amazon Corporate Holdings Ltd board on October 14 has allotted 340 crore shares of Rs 10 face value, aggregating to Rs 3,400 crore to Amazon Seller Services Ltd on rights basis through a resolution," a Chennai-based business intelligence platform, paper.vc, was quoted by the news agency. Adding to that, "The holding firm also on October 17 allotted 17.25 crore shares of Rs 10 face value, aggregating Rs 172.5 crore to Amazon Retail India Ltd, which is based in New Delhi."

This is not the first time that Amazon has invested in India. Earlier, the company announced that it is planning to pump in $5 billion in the Indian market, to give a tough fight to Flipkart. In fact, Walmart backed Flipkart has recently invested millions of dollars in its supply chain management, infrastructure, and marketing during Diwali Sale.

Meanwhile, Amazon has recently announced that its net sales increased 24 percent to $70.0 billion in the third quarter of 2019, compared with $56.6 billion in the same period last year. However, the company has reported a decrease in its net income to $2.1 billion during the same period. While announcing the results, Amazon's founder and CEO says that "Customers love the transition of Prime from two days to one day - they've already ordered billions of items with free one-day delivery this year. It's a big investment, and it's the right long-term decision for customers."

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