Thursday, Jun 30, 2022
Outlook.com

Amazon Infuses Rs 450 Crore In Its India Digital Wallet Biz Ahead Of Festive Season

The news follows a company announcement that it would create 110,000 seasonal job opportunities across its operations network, ahead of the festive season

E-commerce retailer Amazon infused Rs 450 crore into its digital wallet business, Amazon Pay, as per regulatory documents. This follows after the company announced it would create 110,000 seasonal job opportunities across its operations network, ahead of the festive season. 

The retailer is preparing itself ahead of a potential surge in shopping among Indian consumers owing to the festive season. 

News agency PTI reports, Amazon Pay (India) has allotted 45 crore equity shares, aggregating to Rs 450 crore to Amazon Corporate Holdings Pvt Ltd and Amazon.com.incs Ltd, regulatory documents filed with the Ministry of Corporate Affairs and sourced by business intelligence platform Tofler, showed.

Amazon did not respond to PTI's email queries. 

As per the filing, Amazon Corporate Holdings Pvt Ltd was allotted 449,955,036 equity shares, while Amazon.com.incs Limited was given 44,964 equity shares. The shares were allotted on September 17, 2021. 

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