According to regulatory documents, Amazon has infused Rs. 450 Crore into its payment unit in India, Amazon Pay. This news is part of the strategy that Amazon plans to initiate specially around the festive season to compete with key players like Flipkart.
Amazon Pay (India) has allotted 45 crore equity shares, aggregating to ₹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, news agency PTI reports.
According to 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.
