With India stocking up festival season crackers, Amazon just delivered an explosive package at Flipkart’s

Bang in the middle of India’s biggest festival season, Amazon has thrown a surprise.

The American e-commerce giant picked up a 5% stake in Shoppers Stop, a Mumbai-based departmental-store chain, for an estimated Rs 179.25 crore ($27 million), according to a filing made (pdf) to BSE on Sept. 23 by the two companies. The stake purchase is routed through Amazon.com NV Investment Holdings, the e-tailer’s investment arm.

The Jeff Bezos-led firm, through its local entity Amazon Seller...

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