Amazon.com has infused another amount of $250 million in its Indian based seller operations arm Amazon Seller Services Pvt. Ltd, as per the filings with Registrar of Companies.
Singapore-based group entity Amazon Corporate Holdings and Mauritius-based group entity Amazon.com.incs Limited infused this amount in seller’s arm. The investment was secured on September 15 this year by allocating 162 crore equity shares with face value of Rs 10 apiece, as per the source VCCircle.
The funding comes in the midst of Amazon’s third leg of its festive season sales.
While announcing Amazon’s first-quarter results in April, Bezos deemed India as one of the company’s fastest-growing markets. In 2014, the company had invested $2 billion in its India operations and had committed another $3 billion in June 2016, taking the total investment in the country to $5 billion.
In a media interaction earlier this year, Amazon India’s country head Amit Aggarwal had claimed 85% sales growth in the first quarter of 2017 for its registered unit. The overall gross merchandise sale value had increased 68%.
This development comes 3 months after Amazon India’s seller services received Rs 1,680 crore in July.