Amazon, Samara Capital infuse Rs 300 crore into More Retail

20 Jan 2023 , 12:27 PM

According to the most recent regulatory filings, Amazon and Samara Capital, who jointly own food and grocery retail chain More Retail, have invested Rs300 crore in the company this fiscal year to date, with the most recent round of capital infusion occurring earlier this month.

Witzig Advisory Services, More Retail’s holding company, is 49% owned by Amazon and 51% owned by Samara Alternate Investment Fund.

According to the Registrar of Companies (RoC) filings, there was a capital infusion into Witzig Advisory on January 12, which then pumped money into More Retail on the same day. The most recent round of capital infusion totalled Rs100 crore.

More Retail’s net loss increased fourfold to Rs402 crore in the fiscal year 2021-22, from Rs78 crore the previous year, while revenue increased marginally by 2% to Rs4,867 crore. As of March 31, 2022, the accumulated loss was Rs1,039.30 crore.

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