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Amazon is closing its fulfillment center on Goose Island in River North and laying off 211 employees, the company reported in a state filing Monday.
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The company would issue fresh shares worth 30 billion rupees, while existing shareholder Project Ballet Bangalore Holdings (DIFC) will sell shares worth 20 billion rupees.
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Cantor initiates coverage on the company with a bullish "Overweight" rating and a price target of Rs 2,251, suggesting a potential 129% upside by FY26. They project a 20% CAGR revenue growth and a 28.8% CAGR adjusted EBITDA growth for the company from FY24 to FY27E.
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