Shoppers Stop allots ~1.79 bn worth shares to Amazon

Retail chain Shoppers Stop on Saturday said it has allotted 4.4 million equity shares of ~5 each at a price of ~407.78 per equity share, aggregating around ~1.79 million, to Amazon.com NV Investment Holdings.

The private placement committee of Shoppers Stop at its meeting held on January 12 had approved the allotment of the equity shares. The company had entered into an agreement with Amazon in September for the purpose of issuing equity shares on a preferential basis.

As part of the deal, Shoppers Stop will have an exclusive flagship store on the Amazon marketplace.

The two companies have an existing partnership since 2016 under which Shoppers Stops private and exclusive brands (Stop, Kashish, Haute Curry, RS by Rocky Star) have been listed on the Amazon marketplace. Further, according to details of the deal disclosed by the two companies, Shoppers Stop will now have a flagship store on Amazon.in.