Private Equity

PE Fund Investments

Retail store chain More raises addl Rs.300-Cr from Amazon, Samara Capital JV

Economic Times  

Amazon and Samara Capital, joint owners of food and grocery retail chain More Retail, have invested an additional INR 300 crore capital into the company, with the latest round of infusion being made earlier this month. Witzig Advisory Services, More's holding company which is 49% owned by Amazon and 51% by Samara Alternate Investment Fund, saw a capital infusion on January 12. Witzig then invested INR 100 crore into More Retail. More operates 881 supermarkets and 42 hypermarkets. The company was acquired by Witzig Advisory Services in 2019 from the Aditya Birla Group.

From the Venture Intelligence PE-VC Deal Database: Between Sep 18 and Sep 20, More had raised over USD 337 M from Amazon and Samara Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) From the Venture Intelligence Private Company Financials Database: For FY22, More Retail had reported an Operational Income of about INR 4,867 crore and a Net Loss of about INR 402 crore. (Subscribers to the database can login to view the detailed financials.)