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Amazon has acquired a 5% stake in Shoppers Stop

Bapun Raz

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Shoppers Stop to sell 5% stake to Amazon unit; shares surge 20%

Amazon.com NV Investment Holdings, a foreign portfolio investor, will subscribe to about 43.95 lakh shares in Shoppers Stop at Rs 407.78 each on a preferential basis.

The scrip closed Monday's session at Rs 499.60, up 19.97 per cent. Shares of the company opened at Rs 487.10 and touched a high and low of Rs 499.70 and Rs 472, respectively.

Shoppers Stop also hit 52-week high of Rs 499.70 in Monday’s trade, while it had touched 52-week low of Rs 265 on December 28, 2016. ..
 
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