Advertisement

HindustanTimes Thu,27 Nov 2014

Infosys co-founder Murthy plans India JV with Amazon

Reuters  New Delhi, June 26, 2014
First Published: 23:47 IST(26/6/2014) | Last Updated: 23:51 IST(26/6/2014)

Infosys Ltd co-founder NR Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc through his investment firm, Catamaran Ventures, Economic Times reported.

Catamaran confirmed the planned venture with Amazon Asia, the business daily reported on Thursday.

Amazon and Catamaran were not immediately available for comment.

Catamaran will hold a 51% stake in the business, as required under India's foreign direct investment rules, the newspaper reported, citing sources.

Murthy built up Infosys into one of India's top outsourcing service companies. He stepped down as executive chairman of the company earlier this month.


Advertisement
more from Business

Nippon to up Reliance MF stake to 49%; Rs 657 cr for first 9%

Japanese financial services giant Nippon will hike its stake in India's top fund house Reliance Mutual Fund from 26% to 49%, while investing Rs 657 crore for the first tranche of 9%.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved