Shoppers Stop to acquire 19% stake of HyperCity Retail (India) Pvt Ltd

Shoppers Stop Ltd has announced that the Board of Directors of the Company at its meeting held on March 17, 2007, has decided to exercise the option of acquiring 19% shareholding of M/s. HyperCity Retail (India) Pvt Ltd., out of the total 51% of the option available to it.

HyperCity Retail (India) Pvt Ltd., is a part of K Raheja Corp, (Chandru L Raheja Group). The City has at the moment, first store built over 120,000 sq. fts in Malad, Mumbai, which is a hypermarket in truest sense. It stocks an astonishing array of products - groceries, fresh foods, home needs, garments and consumer durable and offers time pressed consumers more convenience variety and value of their money, all under one roof.

Source : Equity Bulls

Keywords