Amazon invests Rs 1,660 crore in Indian marketplace

E-commerce giant Amazon has infused Rs 1,660 crore into the business which runs its Indian marketplace. The move shows the business’ commitment to the Indian market and follows several other equity injections so far this calendar year.

The equity infusion was made by the US-based parent company of Amazon Seller Services, ET Tech reported, citing regulatory filings. The India based business in return for the capital allocated 1.66 billion equity shares worth Rs 10 a piece into Amazon.com and Amazon Corporate Holdings Limited.
 
In February this year, Amazon Seller Services received a Rs 830 crore investment which followed on from an investment of Rs 350 crore made into Amazon Pay, the business’ fintech segment in India. The business has been expanding its offering in India in 2024 in segments including value fashion and cloud services.
 
Amazon India is building ‘Amazon Bazaar’ as a destination for value priced fashion and accessories to appeal to the mass market and tap into the rising demand for online fashion as more and more rural areas of India embrace e-commerce. Along with Amazon India, the country’s major e-commerce and retail businesses including Flipkart and Reliance Industries Limited are also developing value fashion offerings.
 
In the 2023 financial year, Amazon Seller Services reported a revenue total of Rs 22,198 crore, the Economic Times reported. However, despite the business’ 3.4% revenue increase, its net loss also widened in double digits.