Amazon sells 4% stake in Shoppers Stop through open market transaction
19 December 2024, Mumbai
Exiting the retail chain, global e-commerce operator Amazon has sold 4 per cent stake in Shoppers Stop for Rs 276 crore through an open market transaction.
The transaction was executed through Amazon’s investment subsidiary, Amazon.com NV Holdings which sold nearly 44 lakh shares of the retail company, as per data by the National Stock Exchange.
Asset and wealth management company 360 One acquired stakes in Shoppers Stop, through its four affiliates. Kotak Mahindra Mutual Fund (MF), Tata MF and Morgan Stanley also acquired shares in the department store chain at the same price.
In January 2018, Shoppers Stop allotted shares worth Rs 179.26 crore to Amazon.Com NV Investment Holdings LLC, an investment arm of Amazon.com.
