Shoppers Stop allots nearly 44 lakh shares to Amazon

15 Jan '18
2 min read

Shoppers Stop, India based retail chain, has allotted 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share to NV Investment Holdings LLC, an investment arm of Amazon. The two companies will strengthen their existing partnership, and Shoppers Stop will have an exclusive flagship store on the Amazon marketplace.

“The Private Placement Committee of the company at its meeting held on January 12, 2018, approved the allotment of 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share for a total consideration of Rs 179,25,70,296.50, to NV Investment Holdings LLC,” Shoppers Stop said in a regulatory filing with the stock exchanges.

“Consequent to the above allotment, the paid-up share capital of the company stands increased from Rs 41,77,38,055 divided into 8,35,47,611 equity shares of Rs 5 each to Rs 43,97,17,680 divided into 8,79,43,536 equity shares of Rs 5 each,” it added.

In September last year, Shoppers Stop had singed an agreement with NV Investment Holdings for issuing equity shares on a preferential basis. As per the pact, Shoppers Stop will have a flagship store on, listing its entire portfolio of more than 400 categories including apparel and accessories. (RKS)

Fibre2Fashion News Desk – India

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