Shoppers Stop stake for Amazon
New Delhi: Retail chain Shoppers Stop on Saturday said it had allotted 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 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 apiece, aggregating to 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 shares.
The company had entered into an agreement with Amazon.com Investment Holdings LLC in September to issue equity shares on a preferential basis.
As part of the deal, Shoppers Stop will have an exclusive flagship store at the Amazon marketplace.
The two companies have an existing partnership since 2016 under which Shoppers Stop's own and exclusive brands (Stop, Kashish, Haute Curry, RS by Rocky Star) have been listed on the Amazon marketplace.
Further, according to the details of the deal disclosed by the two companies, Shoppers Stop will now have a flagship store on Amazon.in where it will list its entire portfolio of over 400 products across categories such as apparel, footwear, beauty and accessories.