At meeting held on 18 July 2024
The Board of Directors of Shoppers Stop at its meeting held on 18 July 2024, have inter-alia approved additional investment in Global SS Beauty Brands (formerly known as Upasna Trading), material wholly owned subsidiary (GSBBL) of upto Rs. 5 crore in one or more tranches, by way of subscription to Right Issue of 500 preference shares i.e. 0.01% NonCumulative Optionally Convertible Preference Shares (NOCPS) each at par at face value of Rs. 1,00,000/- each of GSBBL.
With the approval of the aforesaid investment, total aggregate investment approved by the Company in GSBBL as on 18 July 2024 is Rs. 60 core, which includes : a) approved and subscribed by way of right issue to Equity shares of Rs. 4.95 crore and Preference shares of Rs. 50 crore; b) further additional investment of Rs. 5 crore approved at the Board Meeting held on 18 July 2024.
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