Shoppers Stop allots INR 179.26 crore shares to Amazon

Shoppers Stop allots INR 179.26 crore shares to Amazon

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Shoppers Stop announced that the Private Placement Committee of the Company at its meeting held today i.e. January 12, 2018, approved the allotment of 43,95,925 equity shares of Rs. 5/- each at a price of Rs. 407.78/- per equity share for a total consideration of Rs. 179,25,70,296.50 (Rupees One Hundred and Seventy-Nine Crore Twenty Five Lakhs Seventy Thousand Two Hundred Ninety Six and Fifty Paise Only), to Amazon.com NV Investment Holdings LLC .

Consequent to the above allotment, the paid-up share capital of the Company stands increased from Rs.41,77,38,055 divided into 8,35,47,611 equity shares of Rs.5/- each to Rs.43,97,17,680 divided into 8,79,43,536 equity shares of Rs.5/- each.

The mission of Shoppers Stop is to provide the “BEST” value in terms of products and services and adopt “best” processes for stakeholders, without compromise, thereby matching global standards of performance.

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com