Amazon Exits Shoppers Stop, Makes 54% Gain On Original Investment
Through this bulk deal, Amazon made a gain of nearly Rs 97 crore.
Online retail giant Amazon.com Inc. exited Shoppers Stop Ltd. on Dec. 18 by selling its entire 4% stake for Rs 276 crore through an open market bulk deal. The US-based company offloaded nearly 44 lakh shares at Rs 627.6 apiece through its investment holding company Amazon.com NV Investment Holdings LLC.
Amazon had bought into Shoppers Stop in January 2018 through a private placement. Shoppers Stop had allotted 43.96 lakh shares to the Amazon affiliate at Rs 407.78 apiece, for a total sum of Rs 179.25 crore.
Through this bulk deal, Amazon made a gain of nearly Rs 97 crore, at a profit of almost 54%. This is in contrast to the stock's relatively lower 27% gain in the same period.
Tata Mutual Fund, Kotak Mahindra Mutual Fund and Morgan Stanley Asia Singapore Pte. picked up a total of 35 lakh Shoppers Stop shares at Rs 627.6 apiece, according to the National Stock Exchange's bulk deal data.
As per NSE's block deal data, four 360 One affiliate funds also picked up 8.9 lakh Shoppers Stop shares at Rs 627.6 apiece, for a total consideration of Rs 56 crore.
