Amazon exits India’s Shoppers Stop by selling 4% stake for $32.44 mn
Amazon yesterday exited Indian retail chain Shoppers Stop after selling a 4-per cent stake in the latter for ₹275.89 crore ($32.44 million) through an open market transaction.
The e-commerce major, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares in Shoppers Stop.
Through this bulk deal, Amazon gained nearly ₹97 crore—a profit of almost 54 per cent.
Amazon yesterday exited Indian retail chain Shoppers Stop after selling a 4-per cent stake in the latter for ₹275.89 crore ($32.44 million) through an open market transaction.
The e-commerce major, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares in Shoppers Stop.
Through this bulk deal, Amazon gained nearly ₹97 crore—a profit of almost 54 per cent.
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