Shoppers Stop has completed the acquisition of balance 32% of the equity share capital a Hypercity Retail (India) Ltd. ("Hypercity") as on June 30, 2010. Pursuant to the said acquisition, the total equity stake of the Company has increased to 51% of the equity share capital of Hypercity, making Hypercity a subsidiary of the Company.

The Promoters of Hypercity have given further time to acquire proportionate preference share capital of Hypercity on the same terms and conditions as applicable to the acquisition of the equity share capital of Hypercity.