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More Retail loss rose to Rs 550 crore in 2022-23 from Rs 402 crore in the fiscal before. Revenue has declined 7.4% to Rs 4,507 crore. Revenue contributors of More RetIail are grocery food and staples at 53% of the sales, followed by grocery non-food at 22% and fresh products at 19%.
Samara Capital, a local partner of Amazon India, is planning to raise as much as $500 Mn for a new fund targeting companies in India.
Samara Capital is planning to raise as much as $500 million for a new fund targeting companies in Asia’s third-biggest economy.
The independent directors of Future Retail have reportedly decided not to accept Amazon’s request of opening its books to Samara Capital.
CAIT has filed another complaint with the CCI against the ecom giant, in a 2019 deal between Amazon and Aditya Birla Group’s More Retail.