Shoppers Stop shares soar 20% on Amazon deal

Shares of Shoppers Stop today

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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)