Shoppers Stop trades higher on making investment of Rs 20 crore in GSBBL
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Shoppers Stop is currently trading at Rs. 636.00, up by 3.10 points or 0.49% from its previous closing of Rs. 632.90 on the BSE.
The scrip opened at Rs. 631.15 and has touched a high and low of Rs. 636.40 and Rs. 627.80 respectively. So far 575 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 819.00 on 21-Oct-2022 and a 52 week low of Rs. 402.90 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 649.00 and Rs. 623.60 respectively. The current market cap of the company is Rs. 6965.93 crore.
The promoters holding in the company stood at 65.46%, while Institutions and Non-Institutions held 27.40% and 7.14% respectively.
Shoppers Stop has made investments aggregating to Rs 20 crore in the preference share capital of Global SS Beauty Brands (GSBBL) by way of subscription to 2,000 preference shares at face value of Rs 1,00,000 each issued by GSBBL.
GSBBL is an SPV of the Company that intends to use the proceeds towards its business of distribution of beauty products (Business expansion and working capital requirements). The object is in-line with the beauty products business of the Company.
