Shoppers Stop has made additional investment aggregating to Rs 4.95 crore in wholly owned subsidiary namely ‘Global SS Beauty Brands’ (GSBBL) by way of subscription to rights issue of 4,95,000 equity shares at face value of Rs 100 each of GSBBL.
The object of the acquisition is to subscribe to equity shares entitlement of the Company in the Rights Issue of GSBBL. 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.
