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Amazon invests ₹700 cr in Amazon Pay India
October 09, 2020
Amazon Pay, the payments arm of online business giant Amazon, has got ₹700.1 crore from its parent element Amazon Corporate Holdings, administrative filings show.
The new tranche has gotten through a Singapore-based entity Amazon Corporate Holdings Private Ltd and Amazon.com. Incs Limited, Mauritius. Amazon Pay(India) has received 70.01 crore value offers to the current investors on a rights premise at ₹10 for every offer to raise the complete thought.
The new mixture for Amazon Pay has come following a hole of nine months. In January, Amazon Pay had received ₹1,355 crore from the holding organization. Already, it had made sure about ₹450 crore in June 2019 and ₹300 crore capital in January 2019 from its Singapore and Mauritius-based parent entities.
Since its commencement in 2016, the all-out financing raised by Amazon Pay from its holding organization presently remains at ₹5,055 crore. Flipkart and Amazon are getting assets from their holding elements in front of the festive season. October and November are the two best business months for e-commerce platforms.