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Shoppers Stop gets nod to make investment in Pahadi Goodness

31 Jul 2023 Evaluate

Shoppers Stop has received an approval for an investment in Pahadi Goodness (Pahadi Local) of upto Rs 4 crore, by way of subscription to 40,000 Optionally Convertible Debentures at face value of Rs 1000 each and shall be entering into a subscription agreement with Pahadi Local for the same. The company shall further have an option to acquire an additional 17.67% of the Equity Capital of Pahadi Local in June, 2025, at a post money valuation of Rs 20 crore.

Through this investment, the company proposes to make a strategic investment in a start-up in the wellness and skin care segment, which is its stated long-term strategy. The strategic investment would enable distribution of Pahadi Local products by the company, which are sourced from Himalayas and are natural. The same goes well with the ESG goals of the company to promote MSME and sustainable products. The object is in-line with the beauty products business of the company. The Board of Directors of the Company at its Meeting held on July 31, 2023 have inter-alia approved the same. 

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.


Shoppers Stop Share Price

299.40 6.40 (2.18%)
17-Apr-2026 16:59 View Price Chart
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