Shoppers Stop to raise Rs 300 cr via rights, issue open Nov 27-Dec 11

Existing investors holding 70 shares can apply for 17 new shares at Rs 140 apiece

Large-format retail chain, Shoppers Stop, plans to raise Rs 300 crore via a rights offering. 

The K Raheja Corp-promoted company joins retail sector peers Aditya Birla Fashion and Retail (ABFRL) and Arvind Fashions in raising capital from existing shareholders in the wake of the covid-19 pandemic, which upended the retailing business. 

ABFRL and Arvind had raised Rs 995 crore and Rs 400 crore, respectively in July this year. 

Shoppers Stop’s right issue will remain open for subscription between November 27 and December 11. Existing shareholders holding 70 shares will be eligible to apply for 17 new shares in the rights