As India's regulatory watchdog authorises Amazon India's request to fully purchase parent Prione Business Services, the ecommerce giant's contract with Infosys founder NR Narayana Murthy's investment firm Catamaran Ventures will come to an end in the next month. Although the contract was set to end on May 19, 2022, Cloudtail is expected to close sooner.
Cloudtail, one of Amazon India's major sellers, will have to transfer its present inventory to other merchants and sellers. Closer to the closure of the Amazon-Catamaran acquisition, this exercise is scheduled to commence. Catamaran Ventures owns 76% of Prione, while Amazon owns the balance. The Jeff Bezos-owned company previously possessed a 49% interest, but was obliged to reduce it to 24% in 2019 to comply with new ecommerce foreign direct investment restrictions. It was not immediately possible to determine the price at which Catamaran is selling its 76t stake to% Amazon.