Shoppers Stop’s shareholding in Nuance Group (India) (NGIPL), a joint venture company has been reduced from 50% to 40% of the paid up share capital of NGIPL. The reduction in percentage aforesaid is on account of non-subscription of NGIPL’s rights issue of equity shares by the company.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.