The investment approved is up to Rs20 crore by way of a combination of Equity shares and Fully Convertible Debentures.
GS BBL is the Company’s SPV that will utilize the proceeds for the expansion of its beauty product distribution business. The object is consistent with the Company’s beauty products business.
The company intends to complete this acquisition by Q3FY23.
Shoppers Stop holds 100% Equity/ Fully Convertible Debentures of GSBBL (representing 100% of the capital of GS BBL).
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