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Time of India
11 hours ago
- Business
- Time of India
Amazon to invest over Rs 2k crore in India this year to boost infra
Amazon is set to inject $233 million into its Indian operations this year, aiming to bolster infrastructure and enhance delivery speeds. This investment will also fuel the development of new technologies for its fulfillment network. MUMBAI: Amazon will invest $233 million (over Rs 2,000 crore) in India this year to expand and upgrade the company's operations infrastructure in the country. Portions of the capital will also be deployed to build new tools and technology for the firm's fulfilment network as the Seattle-based e-commerce company takes on deep-pocketed startups Zepto, Zomato, and Swiggy in the cash-guzzling quick commerce space. "This new investment builds on top of Amazon's investments in creating an ops network that helps the company deliver to all serviceable pin codes across India. This investment will enhance processing capacity, improve fulfilment speed, and increase efficiency across the company's operations network that will help Amazon serve customers across India faster," the firm said in a statement on Thursday. For Amazon, which entered India twelve years ago and was largely operating in a two-player e-commerce market alongside Walmart-controlled Flipkart for a good few years, competition has now grown. Startups such as Meesho, backed by storied investors like SoftBank, are foraying into the market and carving a space of their own by targeting a whole new set of customers who were underserved. Conglomerates such as Reliance Industries and Tata Group are also investing in e-commerce. Besides, startups Swiggy, Zepto, and Zomato's Blinkit have created a growing market for 10-minute deliveries in India, a new challenge for Amazon, which was late to enter the quick commerce space. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
12-06-2025
- Business
- Time of India
PhonePe sells 5% in CE Info for 486cr
NEW DELHI: Digital payments major PhonePe on Thursday trimmed its holding by selling a 5% stake in CE Info Systems, the parent company of MapmyIndia, for Rs 486 crore through an open market transaction. Tired of too many ads? go ad free now PhonePe is an arm of Walmart-controlled online retailer . Following stake sale, shares of CE Info Systems plunged 9.4% to settle at Rs 1,769 apiece on BSE. According to bulk deal data available on the BSE, PhonePe offloaded 27.2 lakh shares, amounting to 5% stake in CE Info Systems. The shares were sold at an average price of Rs 1,786 apiece, taking the transaction value to Rs 486 crore. After the latest transaction, PhonePe's holding in CE Info Systems declined to 13.7% from 18.7%.
