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Shoppers Stop allots Rs 1.8 bn worth shares to Amazon's investment arm

As part of the deal, Shoppers Stop will have an exclusive flagship store on the Amazon marketplace

Press Trust of India  |  New Delhi 

Shoppers Stop
Shoppers Stop

Retail chain on Saturday said it has allotted 5 per shares worth Rs 1.8 billion to com NV Investment Holdings LLC, an investment arm of com. According to a BSE filing by the company, it has issued 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share, aggregating around Rs 1.8 billion, to com The private placement committee of at its meeting held on January 12 had approved the allotment of the equity shares. The company had entered into an agreement with com Investment Holdings LLC in September for the purpose of issuing equity shares on a preferential basis. As part of the deal, will have an exclusive flagship store on the marketplace. The two have an existing partnership since 2016 under which Shoppers Stops private and exclusive brands (Stop, Kashish, Haute Curry, RS by Rocky Star) have been listed on the marketplace. Further, as per details of the deal disclosed by the two companies, will now have a flagship store on in where it will list its entire portfolio of over 400 across categories such as apparel, footwear, beauty and accessories.

First Published: Sat, January 13 2018. 21:49 IST