Shoppers Stop Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2009, inter alia, has considered various fund raising options by further issue of capital including Qualified Institutional Placement / Preferential Issue / Right Issue etc. The Board has, after discussions, resolved as follows:

To approach the shareholders to seek their consent regarding offer, issue and allotment, of upto 4,000,000 equity shares of the Company of Rs. 10 each and / or any other securities convertible into equity shares, such equity shares or securities upon conversion not exceeding 4,000,000 equity shares of the Company of Rs. 10 each in one or more tranches, by way of a Qualified Institutional Placement to Qualified Institutional Buyers, whether or not such investors are existing shareholders of the Company; and

As any further issue of capital by the Company is likely to result in dilution of the shareholding of the promoters and the promoter group, in order to prevent any dilution of the aggregate shareholding of the promoters and promoter group of the Company, the Board also resolved to approach the shareholders to seek their consent regarding the offer, issue and allotment, in one or more tranches, by way of preferential issue, upto 4,000,000 warrants, each convertible into one equity share of the Company of Rs. 10/- each at the price determined in accordance with Chapter VII of the SEBI ICDR Regulations, to certain identified members of the promoter and promoters group of the Company.