Amazon Group’s entities: Amazon Corporate Holdings, Singapore, and Amazon.com, Mauritius have invested around Rs 2,800 crore ($403.1 million) into the Indian marketplace to further strengthen their presence in the Indian market. Amazon had invested Rs 2,200 crore into its Indian entity in December last year.
The company sees a huge potential for growth in the Indian market and continues to invest in the country to maintain its market position. Outside of the US, Amazon India is the most important market for the company which is why it has so far made over $5 billion investment in India.
Amazon India allotted 2.8 billion equity shares of Rs 10 each aggregating to Rs 2,800 crore at par on rights basis to the existing shareholders of the company. The resolution for this capital infusion was passed by the board of directors of Amazon Seller Services on May 21.
Amazon competes with Walmart in India which had bought the majority of Flipkart for $16 billion in the U.S. retailer’s biggest-ever acquisition.