Shoppers' Stop earmarks capex of upto Rs 300-cr over 30-months

MUMBAI: K Raheja-promoted retail chain, Shoppers' Stop, has earmarked Rs 250-300-crore as its capex over the next 30-months to expand operations, a top company official said.

"We have a capex plan of Rs 250-300-crore for over the next 30-months for expanding our retail chains -- Shoppers Stop and Hypercity," Shoppers Stop's vice-chairman, BS Nagesh, told reporters in Mumbai on Thursday.

The company plans to add 18 Shoppers' Shop stores and five HyperCity stores over the next two-and-a-half-years, he said.

The firm was looking at raising up to Rs 350-crore through the QIP route and other means by March 2011 to fuel its expansion and raising its stake in Hypercity from present 19 per cent to 51 per cent.

Of the total amount, about Rs 30-crore has been raised through issue of preferential warrants in December 2009, he had earlier said.

Presently, the BSE-listed retail chain operates 29 Shoppers Stops outlets and 4 hypercity malls in the country.