Shoppers Stop Limited - Acquisition

23 Nov 2022 , 12:00 AM

We refer to our communication dated July 27, 2022, intimating that the Board of Directors of the Company at their meeting held on July 26, 2022, had approved the additional investment in Global SS Beauty Brands Limited (formerly known as Upasna Trading Limited), wholly owned subsidiary (???GSBBL???) of upto Rs. 20 Crores, by way of a combination of Equity Shares and Fully Convertible Debentures. In continuation to the above, we are pleased to inform that Company has made investment aggregating to Rs. 4.95 Crores in the equity share capital of GSBBL, by way of subscription to Rights Issue of 4,95,000 equity shares at face value of Rs. 100/- each of GSBBL.Details with respect to the said purchase as required under Regulation 30(6) read with Schedule III Part A Para A(1) of the Listing Regulations and the SEBI Circular CIR/CFD/CMD/4/2015 dated 9 September 2015 are enclosed as Annexure as attached.