Three Generations of Narayana Murthy Reap ₹2,330 Crore Infosys Dividend Windfall

Infosys' latest dividend payout has significantly benefited its promoters, with a total ₹2,330 crore distributed among them, reported Times of India. The company declared a ₹43 per share dividend, including an interim dividend of ₹21 per share for FY25.

Even the third generation of Infosys promoters has benefited, with Narayana Murthy's grandson Ekagrah Rohan Murty earning ₹6.5 crore in dividends.

Infosys continues its capital allocation policy, returning 85% of free cash flow over 5 years through dividends and buybacks.

Breakdown of Dividend Earnings:

• Nandan Nilekani: ₹175 crore (4 crore shares)
• NR Narayana Murthy: ₹65 crore (1.5 crore shares)
• Sudha Gopalakrishnan: ₹410 crore (9.5 crore shares)
• Rohan Murty: ₹261.5 crore (6 crore shares)
• Akshata Murty: ₹167 crore (3.8 crore shares)
• Ekagrah Rohan Murty (third generation): ₹6.5 crore (15 lakh shares)
• Nikita & Milan Shibulal Manchanda: ₹26.3 crore each (61 lakh shares each)
• Tanush Nilekani Chandra: ₹14 crore (33.5 lakh shares). 

Infosys promoters collectively hold 54.2 crore shares, representing 14.6% of total company shares. The dividend payout marks a 52% increase compared to the previous fiscal year, when promoters received ₹1,527 crore.

Infosys incurred a net cash outflow of ₹20,345 crore in FY25 due to dividend payments and buybacks.

This payout highlights the growing wealth of Infosys' third-generation heirs, with Narayana Murthy’s grandson, Ekagrah Rohan Murty, emerging as one of the youngest shareholders.

Know the Bangladeshi Social Entrepreneur Whom Infosys' Narayana Murthy Praised Lately

Recently, Infosys founder Narayana Murthy stressed the significance of a Bangladesh-based social entrepreneur, who could now possibly head the interim government of Bangladesh, post the unrest in the country. In an opinion article for The Print, Narayana Murthy noted that starting in the mid-1970s, this Bangladesh-based entrepreneur has painstakingly created dozens of organisations that have done a world of good—not only for Bangladesh—but for the world.

The veteran Indian IT pioneer talked about Nobel laureate Muhammad Yunus and his ideas.

“Other leaders studied his models and adapted them in places as diverse as the Philippines, the United States, Kenya, and India. His influence on the thinking and work of a generation of traditional and social entrepreneurs is undeniable,” Murthy wrote.

For an uninitiated, Muhammad Yunus is a renowned Bangladeshi social entrepreneur, banker, economist, and civil society leader. He is best known for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance, which provide small loans to entrepreneurs too poor to qualify for traditional bank loans. This innovative approach has helped lift millions out of poverty and earned him the Nobel Peace Prize in 2006.

Recently, Muhammad Yunus has been chosen to head Bangladesh's interim government following the resignation of the country's longtime prime minister amid violent unrest. His leadership is seen as a beacon of hope for many in Bangladesh, given his track record in social and economic development.

Narayana Murthy has often praised Muhammad Yunus for his groundbreaking work in microfinance and social entrepreneurship. Murthy believes that Yunus’s ideas are crucial in today’s world, especially as we face increasing economic disparities and social challenges.

Yunus’s approach to empowering the poor through microcredit and fostering social businesses can provide sustainable solutions to many of the issues we encounter today. By focusing on creating opportunities for the underprivileged, Yunus’s model promotes inclusive growth and hels build resilient communities.

Murthy’s endorsement highlights the importance of innovative and compassionate approaches to economic development.

Muhammad Yunus won the Nobel Peace Prize in 2006 for his pioneering work in microcredit and microfinance. He founded the Grameen Bank in 1983, which provided small loans to impoverished entrepreneurs who lacked access to traditional banking services. This innovative approach empowered millions of people, especially women, to start their own businesses and improve their living conditions.

The Nobel Committee recognized Yunus and the Grameen Bank for their efforts to create economic and social development from below, highlighting how microcredit can be a powerful tool in the fight against poverty. Yunus' work demonstrated that even the poorest individuals can achieve financial independence and contribute to their communities when given the right support.

Besides the Grameen Bank, Muhammad Yunus has founded several impactful social businesses aimed at addressing various social issues such as Grameen Danone Foods, which is a joint venture with Danone, producing nutrition-enriched yogurt for malnourished children in Bangladesh. Another one, Grameen Shakti, focuses on providing renewable energy solutions, such as solar power, to rural areas in Bangladesh.

An another Yunus-founded entity Grameen Eyecare Hospital offers affordable eye care services to the underprivileged, aiming to reduce preventable blindness.

Yunus Social Business (YSB) is an organization that supports and invests in social businesses globally, tackling issues like poverty and climate change.

These ventures exemplify how Yunus's innovative approach to social business can create sustainable solutions to some of the world's most pressing problems.

Impact of Yunus-Models in India

Muhammad Yunus has had a significant impact in India through his work in microfinance and social business.

The Grameen Bank model has been replicated in various parts of India, providing microcredit to millions of poor entrepreneurs, especially women, to help them start small businesses and improve their livelihoods.

Yunus has even collaborated with several Indian organizations to promote social business and microfinance. For instance, he has worked with the Self-Employed Women's Association (SEWA) to empower women through microcredit.

Yunus Social Business India is part of the global Yunus Social Business (YSB) network, founded by Muhammad Yunus. This initiative focuses on supporting and growing social businesses that address critical social issues in India. The initiative supports and invests in social businesses across India, addressing issues like poverty, healthcare, and education. It aims to create sustainable solutions to social problems by fostering entrepreneurship.

YSB India provides flexible loans and growth support to social businesses, helping them scale and increase their impact. These businesses tackle issues like poverty, healthcare, education, and clean energy.

 

Narayana Murthy and T.V. Mohandas Pai Discuss India’s Growth Story, Corporate Governance & Entrepreneurship in 3one4 Capital’s New Video Series ‘The Record’

The inaugural episodes of the video series, in association with Catamaran, aim to inspire change through ideas and life journeys of India’s veteran industry leaders

3one4 Capital, Bengaluru-based early-stage venture capital firm, announces the official launch of 'The Record,' its latest video series. This insightful series is positioned to provide exceptional insights into the spheres of entrepreneurship and leadership. Notably, the inaugural episodes of 'The Record,' in collaboration with Catamaran, feature Narayana Murthy and T.V. Mohandas Pai, underscoring the series' significance within the corporate landscape, offering a platform for inspiring dialogues and meaningful ideas.

'The Record' by 3one4 Capital aims to highlight the transformational journeys of India's industry leaders and to explore the strategies through which they navigated challenges on their paths to large outcomes. This series offers a distinctive opportunity for audiences to immerse themselves in the fundamental elements of thriving entrepreneurship in India, the dynamics of effective leadership, the complexities of corporate governance, principles for positive-sum market expansion, the forces guiding India's growth trajectory, and much more.

The collaboration with Catamaran, the esteemed family office of Narayana Murthy, adds a significant dimension to the inaugural episodes of 'The Record.' Catamaran is widely known in the industry and has played a pivotal role in fostering successful ventures. This collaboration underscores the commitment of both organizations to empower the entrepreneurial and leadership ecosystem in India.

Commenting at the launch of The Record, Narayana Murthy said, “Catamaran is happy to partner with 3one4 Capital on this inaugural episode. History has a lot to teach us, and candid dialogue on platforms like this will help reveal the intricate journey of entrepreneurship and leadership.”

T.V. Mohandas Pai said, “The Record is an intentional initiative by 3one4 Capital to support a dialogue on governance, startup growth, managing the path to building large institutions, and many other matters related to the transformational journey of entrepreneurship. The inaugural episodes of The Record with Narayana Murthy on corporate governance, building a constructive board, building great teams, and ensuring that corporates are run with the highest standards of governance and ethics will go a long way in helping entrepreneurs across the ecosystem. What Narayana Murthy brings to the dialogue is very rich experience and standard setting, steps that he's taken in building a legacy at Infosys. It's important for us to learn from the best entrepreneurs India has produced over time, and I look forward to more such dialogues soon.”

Pranav Pai, the Founding Partner of 3one4 Capital, introduced the launch of 'The Record, "We have designed ‘The Record’ to support young Indians and the wider startup and corporate ecosystem in their search for focused insights from industry leaders who have successfully built some of India's most distinguished enterprises. We aspire for this video series to serve as a compass for the country's entrepreneurs and operators as they build towards sustainable and inclusive technological and socio-economic advancement."

As 'The Record' continues its episodic releases, 3one4 Capital remains committed to hosting similar conversations with a diverse group of industry leaders from across the nation. These discussions will delve into their unique journeys, sharing experiences, challenges, and achievements as valuable learning opportunities. Each upcoming episode will grant access to the strategic frameworks and transformative ideas that have driven these individuals to success. The collaboration with Catamaran in the inaugural episodes reflects 3one4 Capital's dedication to offering viewers an exceptional opportunity to tap into the collective wisdom of these industry experts in the future.

The first episode was released on October 26, 2023, on 3one4 Capital and Catamaran's website and social channels.

Teaser 

Episode 1

About 3one4 Capital

3one4 Capital is an early-stage venture capital firm based in Bangalore, India.

The firm works in select market categories and in the intersection of adjacencies that are large, growing, and ready for unique products and services. The themes pursued are SaaS, Enterprise & SMB Digitization, Fintech, Consumer Internet, and Digital Health, with a focus on areas such as machine-driven actionable intelligence services, climate tech, ambient intelligence technologies, logistics and distribution, IP-led deep tech, and full stack engineering solutions.

3one4’s investments are biased towards companies exploiting technology to create, grow, or dominate large markets in India. The firm also invests a portion of its capital in global-GTM companies that have feedforward effects into the themes being pursued in India. With a focus on margins and on delivering uncompromised end-user experiences, the firm aims to detect new growth opportunities, manage risk, and return rewarding outcomes to all the stakeholders involved.

3one4 Capital has specialized in utilizing its deep access to strategic corporations and investors in building grounds-up theses that preempt the mainstream while exploiting macro trends. The firm has developed a proprietary sourcing engine to discover the next set of generational companies from the early stage. Once invested, the firm works through a deep involvement strategy with founding teams and subject-matter experts to prioritize and strategize for product-market fit, and then optimize for defensibility and growth in revenue and impact. The firm’s in-house Governance & Business Integrity, Growth & Capital Development, Finance, Research, and Platform teams act as strategic partners to the founders over multiple vectors to amplify the execution, growth, and reach of the portfolio companies.

At 3one4, the team has intentionally built a long-term commitment to responsible investing and to support the evolution of an ecosystem conducive to RI. This active commitment has helped the firm secure the signatory status to the UN PRI, making 3one4 Capital the first Venture Capital signatory from India and the fifth overall asset management firm approved from the country.

3one4 Capital has been ranked by Preqin, a global reference database for asset management, as India’s top performer for two of its funds in its Alternative Assets report. The seed and early-stage funds managed by the firm have been recognized for their performance amongst the India-focused venture capital funds in this Asia Pacific-focused report published in 2021. With industry-leading Net IRRs, 3one4 Capital’s Rising I & Fund II are the top two amongst the best performing India-focused VC funds between the vintage years, 2010-2018.

The firm manages INR 4,100 Cr (USD 510M) of committed capital and a combined portfolio of over 100 investments.

About Catamaran

Catamaran is the family office of Narayana Murthy and is a catalyst for creating innovative enterprises in India. It manages over $1 billion across asset classes. It invests in innovative ideas from passionate and value-based entrepreneurs to help them build successful enterprises. The company partners with respected global corporations to create enduring enterprises in India. Catamaran invests in listed companies catering to large markets, with high standards of corporate governance and the ability to stay resilient across economic cycles.

Treat Start-Ups as a “Marathon, Not a 100-Metre Dash”: Infosys Founder NR Narayana Murthy to Budding Entrepreneurs

With the start-up culture currently booming in the country, Infosys co-founder NR Narayana Murthy advised aspiring entrepreneurs to prioritize perseverance and long-term thinking to achieve success in their new ventures. Sharing from his experience, the tech czar, who built an empire worth more than 5 lakh crores INR, recommends viewing start-ups as a "marathon" rather than a "100-metre dash."

Opining the challenges witnessed in the Indian start-up ecosystem in recent years, Murthy in conversation with TV9 Network Managing Director & CEO Barun Das points out that several factors have contributed to the decline. One of them being the absence of a world-class market research company in India.

He underlined that, “We do not have a world-class market research company in India. If we had such a company, then entrepreneurs could get the correct market size estimate.” He added that, “Unfortunately, in the absence of determining the correct size of the market, youngsters and venture capitalists tend to overestimate it.”

Regarding the issue of massive layoffs in IT industry in the wake of the global economic slowdown, Murthy expressed confidence in Indian businesses to protect themselves.

Referring to Indian companies as a “good value for money in software services,” he asserts, “My belief is when there is a downturn in the US, generally, if we are hardworking, disciplined, innovative…, we will have good opportunities.”

Murthy, who appeared on the TV9 show ‘Duologue With Barun Das’ with his wife Sudha Murthy, a renowned author and chairperson of Infosys Foundation, shared his insights on several topics including India’s start-up landscape, layoffs and opportunities IT industry.

Recalling his early days in Infosys, he even shared several business lessons for building a successful and a thriving venture.

How A Bitter 1974 Train Experience Turned Narayana Murthy into a "Compassionate Capitalist"

A bitter experience on a train in 1974 in Nis, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist", leading him to create Infosys, the country's IT bellwether.

Recalling the incident, Murthy said he was engaged in a conversation with a girl, who could only understand French, but it landed him in trouble.

"We were talking about life in Bulgaria. I think the boy, who was accompanying the girl, got upset with us for some reason. So, he went and brought the police," Murthy said on Sunday while addressing the audience at a tech fest organized by IIT, Bombay, through a video link.

The Bulgarian guards took Murthy's passport, luggage and dragged him on the platform. He was kept in an 8X8 room, with primitive toilet facilities, for a few days.

"I thought they would open the door in the morning and get me some breakfast since I was the state guest, but nothing happened. I lost all hope of eating anything," he said.

The next morning, police took Murthy to the platform and pushed him into the guard's compartment of a departing freight train. At this point, Murthy had not had anything to eat or drink for five days in a row.

The guards said, "Look, you are from a friendly country called India, so we are letting you go but we will give you your passport when you reach Istanbul."

If a country treats friends like this, Murthy thought to himself, he would not want to be part of a communist country ever.

"That cued me from being a confused leftist to a determined compassionate capitalist," he said.

That incident pushed Murthy towards taking the plunge into entrepreneurship.

He said his first attempt at entrepreneurship was a company called Softronics focused on providing IT services to the domestic market, in Pune, which he closed as he could not see any future prospects. PTI HV DIV HMB

Narayana Murthy, Sundar Pichai and Satya Nadella are Top Tech Inspiration for Indian Techies

In an exclusive survey conducted by IT learning platform TechGig, about 64% Indian IT professionals voted for NR Narayana Murthy as the game changer for desi technology sector. Also, Google’s Sundar Pichai topped the list of India-born technology leaders whom most Indians are proud of. He was followed by Microsoft’s Satya Nadella and NIO’s CEO Padmasree Warrior at second and third position, respectively.

In the last 71 years, India has relentlessly worked to become a top player in various spheres, and it has been able to achieve that feat in Technology sector undoubtedly. Today, IT is one of the biggest contributors to India’s GDP, economy and overall success story. To understand major milestones in India’s growth story, TechGig conducted an exclusive survey on IT professionals and the findings revealed the major milestones, as perceived by the Indian techies. Here are the chief outcomes:

Narayana Murthy - The game changer in IT sector

Indian IT sector has been benefitted by contributions of many stalwarts but clearly, Infosys co-founder NR Narayana Murthy remains a hot favourite among the tech professionals. The surveyed professionals were asked to enlist the name of an Indian who created the biggest impact in Indian IT industry, and Narayana Murthy topped the charts among many present and past IT leaders. He served Infosys for around 21 years but his imprint on the mind of Indian techies seems everlasting.

Murthy was followed by Wipro’s Azim Premji and Tata’s N Chandrasekaran on the second and third positions, respectively.

Technology has made jobs more competitive

TechGig’s survey also revealed that technological advancement in last 71 years has given an unprecedented boost to the Indian job market. Around 60% of surveyed professionals support the fact that adoption of technology has been an enabler of jobs, rather than a destroyer. These techies also enlisted that the continuous progression and development on technological front has led to an increase in demand for job profiles like web developer, data engineer, data analyst in recent times.

About 95% of survey respondents said that advancement of technology has made jobs more competitive. About 66% of Indian employees in Tech domain feel that their work is as competitive as jobs abroad. Also, 66% of professionals feel that Indian companies are no longer just the outsourcing hub, possibly because most of them are focussing on R&D to differentiate their offerings from the rest.

“Modern India has a strong focus on science and technology. Today everything in the corporate world is revolving around Big Data, AI, IoT, mapping the future of IT industry, which indeed is fabulous. According to recent trends IT industry will witness a sharp upsurge in off-shore demand. Also, the Indian IT sector will gain momentum, creating a plethora of job opportunities for IT people and future ahead,” said Ramathreya Krishnamurthi – Business Head, TimesJobs & TechGig.

Sundar Pichai, tops the list of India-born leaders

Talented Indians have made breakthroughs, pushed boundaries and held positions of power in the world of technology. According to TechGig survey Google CEO, Sundar Pichai tops the list of India-born technology leaders of whom Indians are proud of, followed by Satya Nadella and Padmasree Warrior at second and third position respectively.

Complete survey findings are available at https://bit.ly/2wKZSLa

TechGig is a culmination of everything related to technology, a platform exclusively for IT professionals to synergize, share, exchange ideas, facts and information as well as showcase their work and express their views on the vast repertoire that the IT industry encompasses. Garnering cutting-edge insights, jobs, reviews and news, as well as providing a platform for connecting with colleagues and peers are the mainstay of TechGig.

[The above content is published unedited via Business Wire India feed]

Flipkart's Founders now as rich as Infosys Co-founders

The Bansals of Flipkart are in the news for all the right reasons. Sachin and Binny Bansal of Flipkart now have a net worth of more than $1 billion which has made these two nearly as rich as the co-founders N R Narayana Murthy and Nandan Nilekani of Bangalore’s tech giant Infosys.

A fresh fund raiser of $1 billion has resulted in raising the values of Sachin and Binny Bansals’ combined stake of approximately 15% at over Rs. 6000 Crore. On the other hand, the Murthy family which consists of four members has a net worth of about Rs. 8,700 crore in Bangalore’s Infosys, while the other founder’s family net worth is valued at about Rs. 6,500 Crore.

The trend all over the world clearly shows that consumer internet ventures have been successful in attracting awesome valuations. The Chinese and the United States internet markets have promoted or raised many billionaire entrepreneurs as soon as they went public with their ventures.

According to the Bloomberg Billionaires Index, the famous CEO of Facebook, Mark Zuckerberg, is valued at a whopping $33 billion, while Jack Ma of Alibaba boosts of a net worth of $ 12.5 billion which is up $ 8. 9 billion year to date.

The Bansals may be nearly as rich as Murthy or Nilekani but they have been successful in superseding one of the co-founders of Infosys in net worth.  Sachin Bansal and Binny Bansal who are not related by blood have a higher net worth than Infosys’ outgoing CEO and co-founder S D Shibulal. He along with his family had a net worth of around Rs. 4,300 crore in the IT services Company as of Tuesday. Its other co-founder Kris Gopalkrishnan’s family net worth stands around Rs. 6,500 crore.

Infosys has been on the scene for over four decades now with a market cap of about $30 billion, while Flipkart in just seven year of its existence has been successfully able to reach $7 billion. The Bansals are even in talks to create a $ 100 billion worth e-commerce Company. Flipkart has been successful in growing its sales from $ 10 million to an annualized $ 2 billion in a three year period from 2011 to 2014.

Flipkart's Founders now as rich as Infosys Co-founders

The Bansals of Flipkart are in the news for all the right reasons. Sachin and Binny Bansal of Flipkart now have a net worth of more than $1 billion which has made these two nearly as rich as the co-founders N R Narayana Murthy and Nandan Nilekani of Bangalore’s tech giant Infosys.

A fresh fund raiser of $1 billion has resulted in raising the values of Sachin and Binny Bansals’ combined stake of approximately 15% at over Rs. 6000 Crore. On the other hand, the Murthy family which consists of four members has a net worth of about Rs. 8,700 crore in Bangalore’s Infosys, while the other founder’s family net worth is valued at about Rs. 6,500 Crore.

The trend all over the world clearly shows that consumer internet ventures have been successful in attracting awesome valuations. The Chinese and the United States internet markets have promoted or raised many billionaire entrepreneurs as soon as they went public with their ventures.

According to the Bloomberg Billionaires Index, the famous CEO of Facebook, Mark Zuckerberg, is valued at a whopping $33 billion, while Jack Ma of Alibaba boosts of a net worth of $ 12.5 billion which is up $ 8. 9 billion year to date.

The Bansals may be nearly as rich as Murthy or Nilekani but they have been successful in superseding one of the co-founders of Infosys in net worth.  Sachin Bansal and Binny Bansal who are not related by blood have a higher net worth than Infosys’ outgoing CEO and co-founder S D Shibulal. He along with his family had a net worth of around Rs. 4,300 crore in the IT services Company as of Tuesday. Its other co-founder Kris Gopalkrishnan’s family net worth stands around Rs. 6,500 crore.

Infosys has been on the scene for over four decades now with a market cap of about $30 billion, while Flipkart in just seven year of its existence has been successfully able to reach $7 billion. The Bansals are even in talks to create a $ 100 billion worth e-commerce Company. Flipkart has been successful in growing its sales from $ 10 million to an annualized $ 2 billion in a three year period from 2011 to 2014.

Narayana Murthy forms JV with Amazon for new E-Commerce entity

N R Narayana Murthy, Infosys' co-founder and former Chairman has joined hands with Seattle based Amazon for an e-commerce joint venture in India.  It seems, after the IT industry, Murthy has his eyes set on revolutionizing the e-commerce sector.

Catamaran Ventures, which is Murthy’s private investment firm has decided to create a new entity by forming a joint venture with Amazon’s Asia unit. This new entity will have an aim of helping the small and medium businesses in India.

The joint venture is called Taurus Business and Trade services and will be operational in major cities and towns of the country. The partnership was officially formalized in May and Murthy’s Catamaran has the majority shareholding in the new entity. Catamaran has 51% stake in the partnership as administrated by India’s foreign direct investment regulations.

The new company will be offering services that will help offline sellers and SMBs in India to get online and reap the benefits of the fast growing online customer base in the country. The company would focus on the inclusion of SMBs into the digital economy.

Amazon made an entry into the Indian market last year with its Amazon Seller Services which provides a third-party marketplace for products. Indian laws do not allow foreign retailers to sell online directly.

Catamaran has previously also made investments in Yebhi.com, which is an online fashion portal. The company is  not doing so well since its two co-founders have quit in early 2014.

With a $3.2 billion worth, the Indian e-commerce is booming like never before and it seems its growth has caught the fancy of the global giants who are trying hard to reap in the fruits of this boom. Domestic companies like Snapdeal, Myntra, Jabong and Flipkart are targeting the gross merchandise volume (GMV) in 2014. GMV is a term in online retailing which is used to indicate a total sales dollar value for merchandise sold through a particular marketplace over a certain time interval.

While the domestic players are aiming growth, the international players like EBay, Amazon, Walmart, Alibaba and Rakuten are eyeing their growth. Amazon Asia is making available logistics and backend support for the venture.

Narayana Murthy forms JV with Amazon for new E-Commerce entity

N R Narayana Murthy, Infosys' co-founder and former Chairman has joined hands with Seattle based Amazon for an e-commerce joint venture in India.  It seems, after the IT industry, Murthy has his eyes set on revolutionizing the e-commerce sector.

Catamaran Ventures, which is Murthy’s private investment firm has decided to create a new entity by forming a joint venture with Amazon’s Asia unit. This new entity will have an aim of helping the small and medium businesses in India.

The joint venture is called Taurus Business and Trade services and will be operational in major cities and towns of the country. The partnership was officially formalized in May and Murthy’s Catamaran has the majority shareholding in the new entity. Catamaran has 51% stake in the partnership as administrated by India’s foreign direct investment regulations.

The new company will be offering services that will help offline sellers and SMBs in India to get online and reap the benefits of the fast growing online customer base in the country. The company would focus on the inclusion of SMBs into the digital economy.

Amazon made an entry into the Indian market last year with its Amazon Seller Services which provides a third-party marketplace for products. Indian laws do not allow foreign retailers to sell online directly.

Catamaran has previously also made investments in Yebhi.com, which is an online fashion portal. The company is  not doing so well since its two co-founders have quit in early 2014.

With a $3.2 billion worth, the Indian e-commerce is booming like never before and it seems its growth has caught the fancy of the global giants who are trying hard to reap in the fruits of this boom. Domestic companies like Snapdeal, Myntra, Jabong and Flipkart are targeting the gross merchandise volume (GMV) in 2014. GMV is a term in online retailing which is used to indicate a total sales dollar value for merchandise sold through a particular marketplace over a certain time interval.

While the domestic players are aiming growth, the international players like EBay, Amazon, Walmart, Alibaba and Rakuten are eyeing their growth. Amazon Asia is making available logistics and backend support for the venture.