The Board of Directors of Shoppers Stop Ltd have approved the rights issue at the board meeting held on 16th October 2020 for an amount aggregating up to ₹ 300 Crores (Rupees Three Hundred Crores). Another meeting which was held on 13th November 2020 has finalized the record date for the Shoppers Stop Rights Issue 2020 which is 20th November 2020.
Shoppers Stop is engaged in the Business of retailing a variety of household and consumer products. The Board has appointed Venugopal G Nair as its managing director and chief executive officer, he has joined the office from 6th November 2020.
Shoppers Stop Rights Issue 2020
|Company Name||Shoppers Stop|
|Rights Issue Price||₹ 140|
|Rights Issue Record Date||20th November 2020|
|Rights Entitlement Ratio||17:70|
|Rights Issue Open Date||27th November 2020|
|Rights Issue Close Date||31st December 2020|
|Last Date for On Market Renunciation||7th December 2020|
|Rights Issue Size||₹ 300 crores|
|Right Issue Announcement Date||16th October 2020|
Stoppers Shop Rights Entitlement Ratio
The existing shareholders as per the record date will be eligible to purchase the new 17 shares on every 70 existing shares at the price of Rs. 140.