Hypercity ceases to be a subsidiary of Shoppers Stop from 30 November 2017
Shoppers Stop announced that the Company and other Sellers have transferred their entire equity shareholdings held in Hypercity Retail (India) (Hypercity / material subsidiary) to Future Retail (Purchaser) on 30 November 2017, received part of the cash consideration (with payment of balance amount (to the extent payable) being subject to certain purchase price adjustments to be determined) and share consideration consisting of 4,756,823 equity shares of Rs.2 each of Future Retail will be received, once the same are allotted by the Purchaser.With the aforesaid sale of equity shares to the Purchaser, Hypercity ceases to be the subsidiary of the Company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app