Shoppers Stop has reduced its shareholding in Nuance Group Fashion & Luxury Duty Free (NGFL) from 5% to 0.00035% of the paid up share capital of NGFL.
Last year in April, the company had acquired 500 equity shares of Rs 10 each at its face value, constituting 5% of paid up share capital of Nuance Group Fashion & Luxury Duty Free. These equity shares had been acquired, from Nuance Group (India); a joint venture company.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.