Shares of Shoppers Stop surged nearly 6% in early trade today after a block deal was executed on the exchanges. Although the buyers and sellers could not be immediately identified but according to CNBC TV-18 Amazon.com NV Investment Holdings offload its 4% stake in the company worth Rs 280 crore.
Key Details:
- Block Deal: 37.6 lakh shares (~3.4% equity) changed hands.
- Value: ₹236 crore at an average price of ₹628 per share.
- Buyers: A clutch of Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs), as per CNBC-TV 18
The stake sale marks Amazon’s complete exit from Shoppers Stop, having sold its remaining stake amid ongoing investor interest.
Shares climbed to ₹643.20 in early trade, reflecting investor optimism following the large deal.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
