Shoppers Stop transfers holding in Hypercity to Future Retail

Shoppers Stop transfers holding in Hypercity to Future Retail

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Shoppers Stop announced that the the Company along with other Sellers have transferred their entire equity shareholdings held in Hypercity Retail (India) Ltd (Hypercity / material subsidiary) to Future Retail Ltd (Purchaser) on November 30 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 Ltd will be received, once the same are allotted by the Purchaser.