Amazon.com NV likely seller in Shoppers Stop block deal: Exclusive – CNBC TV18

Amazon.com NV is said to have sold its entire 4% stake in Shopper Stop Ltd. via block deals on Wednesday, December 18, sources with knowledge of the matter told CNBC-TV18.

As many as 44 lakh shares of Shoppers Stop, amounting to 4% of the total equity changed hands in the block deal which took place during the block window this morning.

Shares changed hands at an average price of ₹628 per share, which takes the total transaction value to ₹276 crore.

Sources further said that a clutch of foreign and domestic institutions are buyers in this transaction, which is likely to be a clean out trade.

Shares of Shoppers Stop gained as much as 4% post the block deal and are currently trading with gains of 2.5% at ₹643.2. The stock is down 31% from its recent peak of ₹943.

The stock has been an underperformer this year, having declined 6% in value so far.