US e-commerce giant Amazon has made its entry into the Big Bazaar. Future Coupons will own 49% of the retail. Amazon Deal has been in talks with Future Retail Group for a year. Kishore Biyani, founder and CEO of Future Retail Group, has entered into an agreement with the companies. Future Retail Business operates more than 9 stores across the country including the Big Bazaar brand in food, grocery, general merchandise and popular supermarket brands.
Amazon has agreed to make an equity investment with Future Coupons Limited. Future Retail Regulatory filings show that Amazon has agreed to acquire a 49% stake in Future Coupons Limited. According to regulatory filings .. The company is interested in Future Retail at 7.3%. Amazon has made a call option grant as part of the deal. This allows Amazon to increase all or all of its promoters. The companies did not disclose the value of the deal. This gives Amazon a 3.58% stake in the mortar retailer.
Amazon and Future Retail have refused to speak on the value of the deal, subject to regulatory approval. Online retailer Amazon Fresh Service has announced plans to select a platform in India, a tech hub in Bangalore. This is the first time the e-commerce company has been delivering the latest products in India. It became the last major growth market.
Amazon has come forward for a second time to buy a stake in the Indian supermarket operator. Last year, Amazon and Indian private equity firm Samara Capital announced a joint venture in a company. This gives Amazon a stake in the Indian supermarket chain More. Amazon has a stake in the Indian department store chain Shoppers Stop.