Shoppers Stop has made investments aggregating to Rs 20 crore in the preference share capital of Global SS Beauty Brands (GSBBL) by way of subscription to 2,000 preference shares at face value of Rs 1,00,000 each issued by GSBBL.
GSBBL is an SPV of the Company that intends to use the proceeds towards its business of distribution of beauty products (Business expansion and working capital requirements). 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.
