New Delhi: As per the documents, Amazon has paid over Rs 225 crore to its payment unit in India.
The latest infusion is expected to help the company compete more aggressively against rivals such as Google Pay and Paytm.
The board has approved the allocation of “22,50,00000 shares. The aggregation of 225 crores approved to the existing shareholder on the basis of rights ”, the regulation documents have been shown by business intelligence platform Tofler.
Amazon Corporate Holdings Private Limited and Amazon.com.Incs Limited were allotted shares, which were recorded by the Ministry of Corporate Affairs.
Amazon did not answer questions.
In October last year, Can Pay received more than 700 crores, while in January, an infusion of ₹ 1,355 crores was made by these institutions. Amazon is valued at millions of dollars among people from various organizations such as Marketplace, Wholesale and Payments Business, as it strengthens your position in the Indian market.
In January last year, Kenan founder Jeffijos announced an incremental investment of over 1 billion (Rs 7,000 crore) in India to help bring small and medium scale industries offline. Previously, the offline retail giant had invested US $ 5.5 billion in India, one of Amazon’s most important charts outside the US and a key growth driver.