LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Amazon, Samara Buy Aditya Birla-Owned 'More' Retail Chain for Rs 4,200 Crore

Amazon's latest acquisition adds more heat to the US e-commerce giant's battle with Walmart Inc in the Indian market, after Walmart acquired Indian firm Flipkart earlier this year.

Reuters

Updated:September 19, 2018, 7:55 PM IST
facebookTwittergoogleskypewhatsapp
Amazon, Samara Buy Aditya Birla-Owned 'More' Retail Chain for Rs 4,200 Crore
An employee of Amazon walks through a turnstile gate inside an Amazon Fulfillment Centre (BLR7) situated in the suburban area of Bengaluru. (Image: Reuters)
Loading...
Amazon.com Inc and Indian private equity firm Samara Capital have bought Aditya Birla Group-owned 'More' retail chain for an enterprise value of Rs 4,200 crore, CNBC TV18 reported on Wednesday, citing sources.

Amazon's latest acquisition adds more heat to the US e-commerce giant's battle with Walmart Inc in the Indian market, after Walmart acquired Indian firm Flipkart for Rs 1600 crore earlier this year.

Samara will buy 51 percent, while Amazon will have the rest, CNBC TV18 reported.

Pranab Barua, who heads the retail and apparel vertical of the Aditya Birla Group, is likely to head the operations of the entity, the report added.

Aditya Birla Group confirmed the development to Reuters, but did not elaborate further.

Amazon did not immediately respond to a request for comment, while Gautam Gode, the managing director of Samara Capital, said the firm does not comment on its investments.
| Edited by: Padmaja Venkataraman
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 203.00 3.92
TCS 1,867.80 3.01
Infosys 726.60 3.52
Jet Airways 293.70 -0.25
Reliance 1,129.65 3.00
Company Price Change %Gain
ICICI Bank 372.55 -0.23
Yes Bank 202.95 3.86
Jet Airways 294.40 0.00
NTPC 145.80 0.38
HUL 1,787.65 1.37
Top Gainers
Company Price Change %Gain
Wipro 329.80 5.52
Yes Bank 203.00 3.92
Tech Mahindra 706.25 3.88
Infosys 726.60 3.52
HPCL 241.55 3.25
Company Price Change %Gain
Yes Bank 202.95 3.86
Infosys 726.55 3.66
Vedanta 198.90 3.03
Reliance 1,129.55 3.02
TCS 1,864.20 2.74
Top Losers
Company Price Change %Gain
Maruti Suzuki 7,355.15 -0.72
ICICI Bank 372.75 -0.16
Bharti Infratel 279.75 -0.12
GAIL 324.55 -0.11
Power Grid Corp 192.45 -0.03
Company Price Change %Gain
Maruti Suzuki 7,349.55 -0.72
ICICI Bank 372.55 -0.23
Power Grid Corp 192.40 -0.03

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results