Tag: Amazon

Amazon exits Shoppers Stop; sells 4% stake for Rs 276 crore

19Dec

By editor3No Comments

Business News, Feature

Amazon exits Shoppers Stop; sells 4% stake for Rs 276 crore

New Delhi, December 19, 2024. Global ecommerce giant Amazon on Wednesday exited retail chain Shoppers Stop by selling a 4% stake in the company for Rs 276 crore through an open market transaction. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares or 4% stake in Mumbai-headquartered Shoppers Stop, as per the block deal data on the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 627.60 apiece, taking the transaction value to Rs 275.89 crore.

26Aug

By editor3No Comments

Business News, Feature, National News

Facing heat, Amazon plans to set up resting points for delivery workers across cities

New Delhi, August 26, 2024. Over the coming years, e-commerce major Amazon plans to open a number of rest points for delivery workers, which would be equipped with drinking water, air conditioning, seating area, and mobile charging points. On Friday, the company inaugurated the first such facility in Gurugram. The company’s vice president, operations, Abhinav Singh Said,The facility will be accessible to all delivery workers, and not just those in Amazon’s fleet, . Drivers would be required to register their details with a security professional guarding the facility, following which they could use the resting point for 30 minutes. At its peak, the facility in Gurugram could host up to 15 people, Singh said. “The aim is to make sure that before the summer months set in, all cities...