Mumbai: Amazon is expanding among the world's leading e-commerce shortages. Amazon deals to buy 49 per cent of its stake in Future Coupons. The Future Coupons, led by Kishore Biyani, informed this. The value of the deal has not been disclosed at present. According to media reports, Amazon will buy 3.58 per cent of Future Retail shares for Rs 1,500 crore from Future Coupons.
Future Coupe is the promoter group company of Future Retail. The big market is operated under Future Retail. It has 1,600 stores across the country. Future Wells does not have shares of Future Retail directly. In March, Future Coupons. subscribed 3.96 crore warrants to Future Retail for Rs 2,000 crore. They can be converted into 7.3 per cent shares at any time in 18 months. According to reports, Rs 500 crore has been released in April.
The remaining Rs 1,500 crore will be paid by Amazon. Amazon will get 3.58 per cent shares of Future Retail in lieu of Rs 1,500 crore. Amazon had been talking for months to buy a stake in Future Retail. The change in FDI rules in February led to the passage of investment through future wells. Amazon has just opened its largest office in Hyderabad a few days ago.