Arisaig India Fund sells 10 lakh Shoppers Stop shares

MUMBAI: Arisaig India Fund today offloaded than 10 lakh shares of retail company Shoppers Stop Ltd for an estimated nearly Rs 34 crore through open market route.

Arisaig India Fund is a Singapore-headquartered investor and part of Arisaig Partners, which has a fund management company with USD 5 billion in assets across emerging markets.

As per information available with the stock exchanges, Arisaig India Fund sold 10,29,000 shares of Shoppers Stop.

The shares were shed on an average price of Rs 328.2 valuing the transaction at Rs 33.77 crore, data showed.

However, the buyer (s) of the shares could not be ascertained immediately.

Shoppers Stop shares plunged by 9.90 per cent to close at Rs 328.80 apiece on the BSE.

At the end of September quarter, Arising Partners (Asia) Pte Ltd held 22.95 lakh shares, amounting to 2.76 per cent, of Shoppers Stop.

Also, Arisaig has investments in domestic FMCG and retail companies such as Godrej Consumer, Nestle India, Marico and Jubilant Foodworks, which operates Domino's Pizza, among others.