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Shoppers Stop allots Rs 179.26-cr shares to Amazon

13 January, 2018 10:10 AM
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Shoppers Stop allots Rs 179.26-cr shares to Amazon

Retail chain Shoppers Stop today said it has allotted 5 per shares worth Rs 179.26 crore to Amazon.com NV Investment Holdings LLC, an investment arm of Amazon.com.

According to a BSE filing by the company, it has issued of 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share, aggregating around Rs 179.26 crore, to Amazon.com NV Investment Holdings LLC.

The private placement committee of Shoppers Stop at its meeting held on January 12 had approved the allotment of the equity shares.

The company had entered into an agreement with Amazon.com Investment Holdings LLC in September for the purpose of issuing equity shares on a preferential basis.

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

The two companies 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 Amazon marketplace.

Also read: Galaxy Surfactants fixes Rs 1,470-1,480 price-band for IPO

Source: moneycontrol.com

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