Amazon divests 4% stake in Shoppers Stop for Rs 276 crore
By MYBRANDBOOK
Amazon has exited its stake in the Indian retail chain Shoppers Stop, selling its 4% holding for Rs 276 crore in an open market transaction on December 18. This marks a significant shift in Amazon's investment strategy in India, as the e-commerce giant moves away from offline retail investments.
Through its investment arm, Amazon.com NV Investment Holdings, the company sold around 44 lakh shares of the Mumbai-based department store chain at an average price of Rs 627.60 per share, according to block deal data from the National Stock Exchange (NSE). The shares were acquired by a consortium of institutional investors, including 360 One Asset and Wealth Management, Kotak Mahindra Mutual Fund, Tata Mutual Fund, and Morgan Stanley. All investors purchased the shares at the same price, reflecting a stable market demand for the stock.
Following the transaction, Shoppers Stop’s stock saw a 1.20% rise, closing at Rs 635.15 on the NSE, a positive signal of investor confidence. The sale of Amazon's stake brings to a close its four-year association with the retail chain, which began in January 2018 when Amazon first invested Rs 179.26 crore in Shoppers Stop. At the time, the partnership was seen as a strategic move to enhance Amazon’s footprint in India’s offline retail sector.
The decision to exit comes as part of Amazon’s broader shift in investment priorities within India. The company is now more focused on strengthening its core e-commerce platform and cloud services, while reducing its exposure to the offline retail space. This exit also reflects the company’s evolving strategy in India, where it continues to face stiff competition in both the online retail and cloud sectors.
While Amazon’s sale of its stake in Shoppers Stop marks the end of one chapter, it indicates a greater emphasis on its digital and service-oriented businesses in India, where it remains a dominant player.
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