Business

Amazon Seller Services gets fresh fund infusion of Rs 915 cr

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The fresh infusion is predicted to supply more arsenal to Amazon in India to compete more aggressively against rivals like Walmart-owned Flipkart and Mukesh Ambani’s JioMart.

US-based e-commerce giant Amazon has infused Rs 915 crore fresh capital into one among its India units – Amazon Seller Services, consistent with regulatory documents.

The fresh infusion is predicted to supply more arsenal to Amazon in India to compete more aggressively against rivals like Walmart-owned Flipkart and Mukesh Ambani’s JioMart.

Amazon Corporate Holdings and Amazon.com.inc have made a Rs 915 crore investment within the unit, as per documents filed with the company affairs ministry and accessed by business intelligence platform Tofler.

The documents showed that 91,49,57,723 shares were allotted to Amazon Corporate Holdings, while 42,277 shares got to Amazon.com.inc as a part of the transaction.

E-mails sent to Amazon India seeking comments on the fund infusion didn’t elicit a response.

Amazon has been pumping billions of dollars into various operations like marketplace, wholesale and payments business because it looks to strengthen its position within the Indian market.

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

Previously, the web retail giant had committed USD 5.5 billion investment in India, one among Amazon’s most vital markets outside of the US and a key growth driver.

Last month, Amazon had also announced a USD 250 million (about Rs 1,873 crore) fund which will specialise in

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