Shoppers Stop Invests ₹10 Cr in Subsidiary GSSBBL

Shoppers Stop Ltd has completed the second tranche of its investment in its wholly-owned subsidiary, Global SS Beauty Brands Limited (GSSBBL). The company invested ₹10 Crores (Rupees Ten Crores only) by subscribing to 1000 Non-Cumulative Optionally Convertible Preference Shares (NOCPS) of face value ₹1,00,000/- each. This investment is part of an approved additional investment of up to ₹40 Crores to fund GSSBBL's growth. With this tranche, Shoppers Stop's total investment in GSSBBL's preference share capital has increased to ₹135 Crores. GSSBBL is engaged in the wholesale and retail distribution of beauty products and operates specialty beauty stores, and is currently in an expansion phase.