Shoppers Stop Ltd — Capital/Financing Update 2026

May 20, 2026

SHOPPERS STOP

SEC/12/2026-27

May 20, 2026

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001.	National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051.
Stock Code : 532638	Stock Symbol : SHOPERSTOP

Dear Sir / Madam,

Subject: Update regarding investment in Global SS Beauty Brands Limited (GSSBBL), Wholly Owned Material Subsidiary of the Company -Intimation under Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

Reference: Subscription to Issue of 2000 0.01% Non-Cumulative Optionally Convertible Preference Shares ('NOCPS') of Rs. 1,00,000/- (Rupees One Lakh Only) of GSSBBL on Right basis.

We refer to our communication dated May 05, 2026 intimating that the Board of Directors of the Company had approved additional investment of upto Rs. 40 Crores (Rupees Forty Crores only), in Global SS Beauty Brands Limited (GSSBBL), wholly owned material subsidiary, by way of subscription to Rights Issue of 4000 preference shares i.e. 0.01% Non-Cumulative Optionally Convertible Preference Shares ('NOCPS') each at par at face value of Rs. 1,00,000/- (Rupees One Lakh Only) each of GSSBBL, in one or more tranches.

We are pleased to inform that out of the above approved investment amount, the Company has today (i.e. May 20, 2026) completed the investment in the first tranche of Issue made by GSSBBL, aggregating to Rs. 20 Crores (Rupees Twenty Crores only) in the preference share capital of GSSBBL, by way of subscription to Rights Issue of 2000 NOCPS of Rs. 1,00,000/- (Rupees One Lakh Only). With the above subscription, the overall investment of the Company in the Preference Share Capital of GSSBBL is enhanced to Rs. 125 Crores.

Details in respect of the said approval for acquisition, as required under Regulation 30(6) read with Schedule III Part A Para A (1) of the Listing Regulations and the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are enclosed as Annexure.

We request you to take the above information on record.

Thank you.

Yours faithfully,

For Shoppers Stop Limited

RAKESHKUMAR
SANWARMAL
SAINI

Digitally signed by
RAKESHKUMAR
SANWARMAL SAINI
Date: 2026.05.20
18:09:57 +05'30'

Rakeshkumar Saini
Vice President – Legal, CS & Chief Compliance Officer
ACS No. 20257

Confidential

Shoppers Stop Limited

Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra.

T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com

Toll Free No.:1800-419-6648 (9 am to 9 pm).

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SHOPPERS STOP

Annexure

Details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 ("Listing Regulations") read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026:

Details to be disclosed - Acquisition (Investment in preference shares of Global SS Beauty Brands Limited by way of subscription to Rights Issue)

Acquisition (including agreement to acquire):

Sr. No.	Particulars	Details
1	Name of the target entity, details in brief such as size, turnover etc.;	• The Company proposes to further fund the growth and business of its material, wholly owned subsidiary, Global SS Beauty Brands Limited (GSSBBL) by investing in the shares issued by GSSBBL on rights basis. The Company already holds 100% of the paid-up equity capital and preference share capital amounting to Rs. 5 Crores & Rs. 105 Crores respectively.
• During FY 25-26, turnover is Rs. 379.75 Crores
2	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	• The subscription of 2000 preference shares (0.01% Non-Cumulative Optionally Convertible Preference Shares (“NOCPS”) in the material wholly owned subsidiary is a related party transaction.
• The promoter/promoter group/group companies of the Company have interest in GSSBL to the extent of their holding in the Company (i.e., 66.06% equity shares of the Company).
• Arm’s Length – Not applicable
• GSSBL is a wholly owned subsidiary of the Company. As such no separate approval of the Audit Committee is required pursuant to Regulation 23 (5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
3	Industry to which the entity being acquired belongs;	Retail & Wholesale Trading
4	Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	• GSSBBL is a wholly owned subsidiary of the Company engaged in the business of wholesale and retail distribution of beauty products and operation of specialty boutique beauty stores. The Company is redefining the beauty experience in India by combining

Confidential

Shoppers Stop Limited

Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra.

T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com

Toll Free No.:1800-419-6648 (9 am to 9 pm).

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SHOPPERS STOP

| | | premium brands, immersive retail formats, and digital-first engagement.
• GSSBBL is in the expansion phase and is in need of additional funds to grow its business.
• GSSBBL intends to use the funds for proposed expansion plans and working capital requirements of the Company |
| --- | --- | --- |
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition; | None, other than regular establishment licenses / registration. |
| 6 | Indicative time period for completion of the acquisition; | • The Company has invested in NOCPS of GSSBBL by way of subscription of Right Issue on May 20, 2026.
• Allotment of NOCPS of GSSBL is expected to be completed in 15 working days. |
| 7 | Nature of consideration - whether cash consideration or share swap and details of the same; | Cash consideration |
| 8 | Cost of acquisition or the price at which the shares are acquired; | Cost of acquisition: Rs. 20,00,00,000 /- (Rupees Twenty Crores Only).
Rights Issue of 2000 preference shares (0.01% Non-Cumulative Optionally Convertible Preference Shares ('NOCPS') of face value Rs. 1,00,000 /- each (Rupees one lakh only) at par. |
| 9 | Percentage of shareholding / control acquired and / or number of shares acquired; | Pre-Acquisition:
• Number of equity shares held: 4,99,994 (the remaining six equity shares are held by nominees of Shoppers Stop Limited)
• Number of preference shares: 10,500
• Percentage of shareholding: 100%
• Control: 100%

Post-Acquisition:
• Number of equities shares to be held: 4,99,994 (the remaining six equity shares are held by nominees of Shoppers Stop Limited)
• Number of preference shares: 12,500
• Percentage of shareholding: 100%
• Control: 100% |

Confidential

Shoppers Stop Limited

Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra.

T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com

Toll Free No.:1800-419-6648 (9 am to 9 pm).

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SHOPPERS STOP

| 10 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); | • Global SS Beauty Brands Limited, a material wholly owned subsidiary (GSSBL) of Shoppers Stop Limited (SSL) was incorporated on December 08, 1995.
• GSSBL is engaged in the business of distribution of beauty products and operating speciality retail stores.
• Turnover of last 3 years:
FY 2025-26 – Rs. 379.75 crores
FY 2024-25 – Rs. 220.02 Crores
FY 2023-24 – Rs.95.73 Crores
• Presence of entity: India |
| --- | --- | --- |

Confidential

Shoppers Stop Limited

Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra.

T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com

Toll Free No.:1800-419-6648 (9 am to 9 pm).