Shoppers Stop allots Rs 179.26-cr shares to Amazon
New Delhi: 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.
Further, as per 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 across categories such as apparel, footwear, beauty and accessories.
Iranian Foreign Minister Mohammad Javad Zarif on Sunday called for practical measures by the European parties toward the 2015 nuclear deal to save the accord.
Safaricom has suffered a voice and data outage affecting critical transmission equipment because of a damaged fibre link, Kenya’s biggest telecoms company said.
Rahul Gandhi today alleged there was certainly a "scam" in the controversial Rafale jet deal with France and accused Defence Minister Nirmala Sitharaman of doing a "flip-flop" on the secrecy clause.
Arvind Kejriwal announced that financial assistance for Resident Welfare Assocations (RWAs) and NGOs registered with the Delhi Parks and Gardens Society (DPGS) for maintenance of parks and gardens would be doubled from Rs 1 lakh to Rs 2 lakh.
U.S. director of intelligence Dan Coats said he in no way meant to be disrespectful toward President Donald Trump with what he called his “awkward response” to news of a second planned Trump summit with Russian President Vladimir Putin.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.