In a bid to fuel its growth, retailer Shoppers Stop proposes to raise Rs 300-crore through a Qualified Institutional Placement (QIP) over the next two quarters, a top company official said today. “We are in talks with investors and analysts and will make an announcement on the same over the next two-months.

We will take a call depending upon the prevailing market conditions,” Shoppers Stop’s Vice-Chairman, B S Nagesh, told reporters at the re-launch of its first store here. The company had earlier said that it would raise about Rs 300-crore through a QIP and borrowings.

On its expansion plans, Nagesh said the company would invest Rs 100-120 crore to open 12 more Shoppers Stop and four Hypercity stores in this fiscal. The Hypercity stores would be coming up at Bhopal, Ahmedabad, Ludhiana and Mumbai, he said.

The company plans to take the count of Hypercity stores to 25 in the next three years and expects it to break-even in FY 13. Presently, the company has seven Hypercity outlets and expects a break-even at the store level in FY 11.