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Amazon invests additional Rs 4,472 crores in Indian subsidiaries

Amazon’s board on October 17 also allotted 90 crore shares of Rs 10 face value, aggregating Rs 900 crore to Amazon Pay India Ltd

SNS | New Delhi | October 30, 2019 12:07 pm

Amazon invests additional Rs 4,472 crores in Indian subsidiaries

Amazon's newly inaugurated largest campus building in Hyderabad. Amazon's new Indian headquarters, its biggest building globally, matches its ambitions in a vast but challenging market. (Photo by NOAH SEELAM / AFP)

With an aim to expand operations, US-based e-commerce giant Amazon has recently invested an additional Rs 4,472 crore ($635 million) in three of its Indian subsidiaries, reports said on Tuesday.

“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 report filed by news agency, IANS, quoted.

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Amazon’s board on October 17 also allotted 90 crore shares of Rs 10 face value, aggregating Rs 900 crore to Amazon Pay India Ltd on rights basis.

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“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,” the report said.

(With input from agencies)

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