(Reuters file)
(Reuters file)

Amazon invests 51 crore in Quess Corp arm

  • Amazon invested the amount at a price of 676 per share, nearly 50% higher than its trading price of 430 on Friday
  • Amazon has so far invested in a number of Indian technology startups, including digital insurance firm Acko, digital lender Capital Float and payments technology firm Tone Tag

Mumbai: US-based e-commerce giant Amazon has made an equity investment of 51 crore in QDigi, an after-sales support company for electronic products. QDigi is a subsidiary of Quess Corp, a Bengaluru-based listed business services firm.

Quess Corp board has approved issue of 754,437 equity shares to Amazon.com at an issue price of 676 on a preferential basis, according to a stock exchange filing. The issue price is nearly 50% higher than its current trading price of 430.

Quess Corp, currently offers end-to-end business functions like recruitment, temporary staffing, technical staffing, information technology (IT) products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services to companies operating across sectors-- global technology solutions, people and services, integrated facility management and industrial asset management.

QDigi, earlier a subsidiary of HCL Infosystems, is an after-sales service provider for product categories such as mobile phones, consumer electronics and consumer durables in the customer lifecycle management space. The company has a provisional operating income of 183.5 crore, according a report from rating agency ICRA.

Amazon has so far invested in a number of Indian technology startups, including digital insurance firm Acko, digital lender Capital Float and payments technology firm Tone Tag.

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