Hypercity ceases to be a subsidiary of Shoppers Stop from 30 November 2017
Shoppers Stop announced that the Company and other Sellers have transferred their entire equity shareholdings held in Hypercity Retail (India) (Hypercity / material subsidiary) to Future Retail (Purchaser) on 30 November 2017, received part of the cash consideration (with payment of balance amount (to the extent payable) being subject to certain purchase price adjustments to be determined) and share consideration consisting of 4,756,823 equity shares of Rs.2 each of Future Retail will be received, once the same are allotted by the Purchaser.With the aforesaid sale of equity shares to the Purchaser, Hypercity ceases to be the subsidiary of the Company.
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