InvestorQ : Why has the stock of Shoppers Stop gained sharply in recent days?
shrinidhi Rajan made post

Why has the stock of Shoppers Stop gained sharply in recent days?

Answer
image
3 months ago
Follow

Shoppers Stop stock has been buoyant in recent days after it recently closed the deal to sell a controlling stake in Crossword Bookstores. Shoppers Stop will be selling a controlling stake in Crossword to Agarwal Book House or ABH. As part of the deal, Shoppers Stop will divest 51% stake right away and 39% in the next 12 months. The total consideration for the sale has been fixed at Rs.41.62 crore.

Under the agreement, Agarwal Book House will take over all assets and brand, but not the full liabilities of the bookstore. The sale of Crossword Bookstores is with the broad intent of exiting all non-core areas. Shoppers Stop plans to get its focus back into core retail. It will also invest in expanding some of its value accretive franchises like First Citizen, Private Labels, Beauty and Omni-Channels.

4 Views