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News about Shopper’s Stop Limited

NSE Press Release

The media had reports that Shopper’s Stop Limited may acquire 51% stake in HyperCity Retail(India) Pvt Ltd.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Shopper’s Stop Limited has vide its letter inter-alia stated, “As has already been informed in our IPO prospectus, the company has entered into an Option Agreement whereby it has an option to acquire upto 51% of HyperCity Retail (India) Pvt. Ltd., at any time before December 31, 2008. The Board of Directors of the Company will decide on exercise of this Option at an appropriate time. Mr. B. S. Nagesh has been misquoted in the news report. Further, as on date, HyperCity Retail (India) Pvt. Ltd. has set up its only maiden store at Malad, Mumbai and there are no three existing stores as quoted in the said press item.”

Add commentFebruary 24th, 2007

Birla picks up majority stake in Trinethra - makes first big step of retail plan

Retail is the hot sector in India and no business house can afford to miss this huge business opportunity. With growing income levels and increasing middle class, organized retail has a huge potential in the country. Big Bazaar, Spencers, Reliance Retail, Walmart-Bharti are all ready with their strategy for the upcoming few months. The only calm and silent man is Kumara Mangalam Birla of the Aditya Birla group.

The news is out now. Birla makes its first retail acquisition. Birla is said to have acquired ‘a significant majority shareholding in Trinethra Super Retail from India Value Funds’. There is no word from the group about the price of the acquisition. Trinethra will be managed by the Aditya Birla Retail. The group is hungry and is considering having a multi-format – both of large and small ones. The group might also be looking into other acquisitions to roll out its full retail strategy.

Add commentJanuary 18th, 2007