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  Business   Companies  25 Sep 2017  Shoppers Stop shares soar 20 per cent on Amazon deal

Shoppers Stop shares soar 20 per cent on Amazon deal

PTI
Published : Sep 25, 2017, 6:10 pm IST
Updated : Sep 25, 2017, 6:10 pm IST

The retail company said it will raise Rs 179.26 crore from Amazon by issuing equity shares.

The stock jumped 19.97 per cent to settle at Rs 499.60 on BSE.
 The stock jumped 19.97 per cent to settle at Rs 499.60 on BSE.

New Delhi: Shares of Shoppers Stop on Monday soared 20 per cent after the retail company said it will raise Rs 179.26 crore from Amazon by issuing equity shares, amounting to 5 per cent stake in it, on preferential basis.

The stock jumped 19.97 per cent to settle at Rs 499.60 on BSE. During the day, it rallied 19.99 per cent to Rs 499.70. At NSE, shares of the company zoomed 19.68 per cent to end at Rs 500.40.

 

In terms of equity volume, 2.33 lakh shares of the company were traded on BSE and over 23 lakh shares changed hands at the NSE during the day.

The board of directors of the company in its meeting held on Saturday approved issue of 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share to Amazon.com NV Investment Holding, Shoppers Stop had said in a BSE filing.

Tags: shoppers stop, shares, revenue, amazon deal
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