Amazon exits India's Shoppers Stop by selling 4% stake for $32.44 mn

The e-commerce major, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares in Shoppers Stop, as per the block deal data on India’s National Stock Exchange. The shares were offloaded at an average price of ₹627.6 apiece.

Shoppers Stop had allotted 43.96 lakh shares to the Amazon affiliate at ₹407.78 apiece for a sum of ₹179.25 crore in January 2018.

Through this bulk deal, Amazon gained nearly ₹97 crore—a profit of almost 54 per cent.

Asset and wealth management company 360 One, through its four affiliates, acquired 0.89 million shares in Shoppers Stop. Kotak Mahindra Mutual Fund, Tata Mutual Fund and Morgan Stanley Asia Singapore Pte also picked up 3.5 million shares in the department store chain at the same price.

ALCHEMPro News Desk (DS)