Singapore-based Amazon Corporate Holdings Pvt. Amazon Corporate Holdings was allotted 1.45 billion shares and Amazon.com.incs another 67,452 shares at a nominal value of ₹10 per share. Previously, Amazon Pay also raised ₹450 crore ahead of the Diwali season sales from its US parent to compete with Flipkart during the month-long festive season sales. Those funds were also raised by Amazon Corporate Holdings and Amazon.com Inc.As a part of its month-long festive season sale, Amazon India said that almost 79% of new customers were from non-metro cities such as Ernakulam, Guntur, Krishna and Godavari. Kiranas and local businesses which joined the ‘Local Shops’ programme, launched in April 2020, registered nearly two-fold growth during the festive sales.

Source: Mint November 14, 2021 16:52 UTC