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COFORGE CHAIRMAN’S EXIT Amazon Now hits $1 billion O P Bhatt’s extension annualised gross sales in India hit shareholder wall peerzada abrar We are humbled by the customer Bengaluru, 14 September Amazon ramps response, with orders doubling every quarter,” said Samir Ku - up India network Amazon said its ultra-fast de- mar, country manager, Amazon livery service Amazon Now has Amazon announced the India. “We are on track to expand avik das Coforge is looking to reached $1 billion in annualised biggest-ever expansion of to 100 cities by Diwali, taking de- Bengaluru, 14 September double its revenue to $5 billion gross sales in India over the its operations network livery-in-minutes from Gurdas- by 2030 from about $2.4 bil- past three-month period. The ahead of the festival sea- pur and Hoshiarpur in the north Coforge reportedly lost confi- lion now, as it looks to scale up firm said Amazon Now orders son, with the launch of 20 to Vembayam and Alamcode in dence in its chairman before its key accounts, materialise its have doubled every quarter fulfilment centres, 6 sort the south. Customers across the shareholders denied a special artificial intelligence (AI) bets, since launch, making it the centres and 150 last-mile country can look forward to the resolution at the annual general and also buy other firms to fastest-growing ecommerce delivery stations. The ex- widest selection delivered at the meeting (AGM) to extend O P provide immediate inorganic business in Amazon India’s his- pansion raises Amazon’s fastest speeds this festive sea- Bhatt’s tenure till 2032, that led revenue. That is an ambitious tory. The development comes total storage capacity by son,” said Kumar. to him receiving the lowest rat- bet from a company that ahead of the festival season, as 50 per cent to 64 million People familiar with the de- ings by other board members as touched a billion dollars in the company faces intensifying cubic feet — equivalent velopment said Amazon Now’s part of the board evaluation re- cumulative revenue just three competition from quick-com- to over 720 Olympic- average order value is around port, according to people fam- years ago, but then, it has been merce rivals, including Blinkit, sized swimming pools. ₹540, with the company hand- iliar with the matter. growing at breakneck speed Zepto, Swiggy Instamart and peerzada abrar ling about 700,000 orders a day. The ratings, which the since the pandemic. Flipkart Minutes. They said Amazon Now has a company says Bhatt did not “He (Bhatt) may have had The company has expanded 10 per cent market share by disclose or discuss with the his reservations about the Amazon Now to 4X more cities in Telangana and Berhampur orders and 14 per cent by value. board, led to a fallout between tor (CEO), with the rating way deals were financed, or in less than 10 weeks, taking de- in Odisha among others. These In June 2026, Amazon had the career banker and one of coming from four independent the high salaries of senior livery-in-minutes to over 60 In- orders are delivered within announced plans to build In - India’s fastest-growing mid- directors and one executive di- executives, or if the company dian cities and towns ahead of minutes through a network of dia’s largest “delivery-in-min- tier information technology rector. The fact that Bhatt was adopting a riskier ap- the festival season. Apart from over 750 micro-fulfilment and utes” network by scaling (IT) services companies, re- scored the lowest shows the proach to grow fast. This the metros, this service is avail- urban fulfilment centres. Ama zon Now to customers in sulting in Bhatt stepping doubts of other members about could always be a tussle be- able to customers in towns such “In a short period of time, over 300 cities. The firm said it down last week. That was fol- him, said one of the persons. tween conservative and ag- as Padubidri and Dharwad in Amazon Now has crossed $1 bil- continues to scale up its special- lowed by the resignation of D Private equity firm Advent In- gressive growth strategies,” Karnataka, Tirupati and Guntur lion in annualised gross sales in ised fulfilment infrastructure to K Singh, the head of the ternational, which holds about said Pareekh Jain, CEO of in Andhra Pradesh, Gurdaspur India, making it the fastest- offer the largest selection of nomination and remuner- 20 per cent stake in Coforge, was EIIRTrend, a platform for dis- and Jalandhar in Punjab, Vel- growing ecommerce business products by sellers to customers ation committee. not part of the evaluation pro- covering engineering trends. lore in Tamil Nadu, Warangal unit in Amazon India’s history. across the country. “It’s more of an integrity cess, the people confirmed. Ad- That growth strategy has and governance issue; whether vent International voted against the support of Advent, which you have the right facts or not. Bhatt’s extension last month. became one of the largest HORIBA India may chip in with local Obvi o usly, we are not happy Questions remain on why shareholders post the acquisi- with wha t has happened. It’s Bhatt, who was also an inde- tion of Encora for $2.35 billion caught us by absolute surprise. pendent director at Tata Con- last year. According to Jain, semicon gear as demand builds We’ve always held Bhatt and sultancy Services (TCS), fell Advent would be looking at a Singh in high regard,” said a out of favour with the board. short-term fast growth path to board me m b er who did not The people quoted above said maximise its returns because it aashish aryan HORIBA India’s operations. wish to be named. that while he was supportive did not directly place its bets New Delhi, 14 September Though India has ample tal- People in the know added and there was no dissent on on the company. Advent Inter- ent for R&D in semiconductor that the evaluation exercise anything in the meetings he national also did not respond HORIBA India, a manufacturer chip manufacturing and pack- applied to every member, in- chaired, he failed to make his to requests from Business and provider of precision ana- aging, the country should also cluding Chief Executive Of- mark as an effective head. Standard for comment. lytical and measurement sys- focus on building a complete, ficer Sudhir Singh. Some of the Bhatt did not respond to Coforge said on Monday it tems, is open to setting up end-to-end semiconductor parameters, they said, to ev a- calls. Repeated text and had appointed executive domestic manufacturing units value chain to create more in- luate the performance of the WhatsApp messages sent to search firm Egon Zehnder to for mass flow controllers and tellectual property (IP) that chairman included questions him asking for his response to identify two additional inde- other specialised semiconduc- stays with Indian companies about his contribution, the board’s view went un- pendent directors and a new tor manufacturing equipment Dan Horiba, executive and researchers, Horiba said. whether he facilitated board answered. chairman within the next few in India once the overall silicon director and general “That (creating a value meetings properly, if he was Speaking on the condition months. Interim chairperson chip fabrication and packaging manager, HORIBA India chain) is always a big driver of able to contribute effectively as of anonymity, some analysts Vivek Sharma said the search ecosystem grows, Dan Horiba, IP. For example, in Japan, when the head, whether he had a said this could perhaps be would be global, focusing on executive director and general we have global capabilities for you look back 20 or 30 years, we good appreciation of the in- traced back to Bhatt’s career candidates with governance manager of the group strategy markets in Europe, Singapore had very strong chip manufac- dustry and if he understood trajectory of heading relatively experience and professional division at Horiba, said. and other areas. We have prod- turers. At that time, component the business in deta [Showing first 8,000 characters — download PDF for full document]