Shoppers Stop has received approval for additional investment in Global SS Beauty Brands (formerly known as Upasna Trading), wholly owned subsidiary (GSBBL) of upto Rs 20 crore, by way of a combination of Equity Shares and Fully Convertible Debentures. The Board of Directors of the company at its meeting held on July 26, 2022, has approved the same.
GSBBL is an SPV of the Company that intends to use the proceeds towards its business of distribution of beauty products. The object is in-line with the beauty products business of 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.
