Amazon yesterday exited Indian retail chain Shoppers Stop after selling a 4-per cent stake in the latter for ₹275.89 crore ($32.44 million) through an open market transaction.
The e-commerce major, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares in Shoppers Stop.
Through this bulk deal, Amazon gained nearly ₹97 crore—a profit of almost 54 per cent.