Shoppers Stop has completed the further sale of 19.50% of stake of the Company in Crossword Bookstores on October 12, 2022. Accordingly, the Company’s equity stake in Crossword stands reduced to 10.00% and Crossword has ceased to be Associate Company.
Earlier, on October 11, 2021, the Company had completed the sale of 51% stake of the Company in Crossword and that Crossword had ceased to be a subsidiary of the Company. On April 08, 2022, the company had sold 19.50% stake in Crossword, reduced stake to 29.50%. The company had received approval for sale of 100% equity shares held by the Company in Crossword Bookstores on August 31, 2021.
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.
