{"id":674,"date":"2018-05-09T09:32:54","date_gmt":"2018-05-09T09:32:54","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=674"},"modified":"2018-05-09T09:33:21","modified_gmt":"2018-05-09T09:33:21","slug":"amazon-invests-rs-2600-crore-more-in-india","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/amazon-invests-rs-2600-crore-more-in-india\/","title":{"rendered":"Amazon invests Rs 2,600-crore more in India to take on Walmart"},"content":{"rendered":"<p>World\u2019s largest e-commerce player Amazon has invested an additional Rs 2,600 crore in its India operations ahead of the US retail giant Walmart taking over the country\u2019s e-tail major Flipkart.<\/p>\n<p>\u201cThe Amazon board has accorded consent to allot 260 crore shares of Rs 10 face value aggregating Rs 2,600 crore to the shareholders on rights basis in the ratio of their shareholding,\u201d said Amazon Services Ltd in a filing with the Registrar of Companies (RoC).<\/p>\n<p>According to the Chennai-based business intelligence platform Paper.vc, which sourced the regulatory documents, the Seattle-based Amazon infused the additional capital into the Singapore-based Amazon Corporate Holdings Ltd and Amazon.com incs Ltd, which operate Amazon India e-tail business.<\/p>\n<p>\u201cThough the Board accorded consent on April 26, the regulatory filing was made with the RoC on Tuesday by Amazon Company Secretary Ankur Sharma,\u201d Paper.vc Vivek Durai told\u00a0 on Wednesday.<\/p>\n<p>Amazon Seller Services helps Indian sellers to hawk their diverse products online across India and worldwide.<\/p>\n<p>Amazon Chief Executive Jeff Bezos had earlier committed to invest a whopping $5 billion in India to cash-in on the rapid growth in e-commerce.<\/p>\n<p>Growing at about 30 percent cumulative average growth rate (CAGR), the e-commerce business is projected to be about $200 billion of the gross merchandise value in a decade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World\u2019s largest e-commerce player Amazon has invested an additional Rs 2,600 crore in its India operations ahead of the US retail giant Walmart taking over the country\u2019s e-tail major Flipkart. \u201cThe Amazon board has accorded consent to allot 260 crore shares of Rs 10 face value aggregating Rs 2,600 crore to the shareholders on rights [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[114,113],"class_list":["post-674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ankur-sharma","tag-e-commerce"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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