Earlier, on 31 August 2021, the company's board had approved the sale of 100% equity shares held by the company in Crossword Bookstores (Crossword), to M/s. Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House) (ABH), Pune.

The business of Crossword Bookstores is valued at Rs 41.6 crore. Under the agreement, ABH will take over all the assets and brand. Any liabilities will be adjusted for arriving at the final consideration.

On 11 October 2021, the company had completed the sale of 51% stake of the company in Crossword and that Crossword had ceased to be a subsidiary of the company.

In continuation to the above, the company intent to sale of 100% equity shares of Crossword, the company has completed the further sale of 19.50% of stake of the company in Crossword on 8 April 2022. Accordingly, the company's equity stake in Crossword stands reduced to 29.50%.

Shoppers Stop is engaged in the business of retailing a variety of household and consumer products through departmental stores. The company reported consolidated net profit of Rs 77.32 crore in Q3 FY22 as against net loss of Rs 25.11 crore in Q3 FY21. On a consolidated basis, net sales rose 33.82% to Rs 958.11 crore in FY22 over Q3 FY21.

Shares of Shopper Stop were trading 0.99% higher at Rs 464.05 on BSE.