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US-based Amazon pumps in INR 450 Cr in Amazon Pay India

Shortpedia

Content Team
Image Credit: shortpedia

US-based ecommerce giant Amazon has infused INR 450 Cr into Amazon Pay India, its payments arm. As per the regulatory filings accessed by Inc42, Amazon Pay India will be allotting 449,955,036 equity shares to Amazon Corporate Holdings and 44,964 equity shares to Amazon.com.incs Limited. Capital infusion has come ahead of festival season where Amazon will go head to head against Walmart-owned Flipkart.