Vice-Chairman of Shopper’s Stop Ltd, BS Nagesh revealed the plans to raise Rs300cr through qualified institutional placement (QIP) within the next two quarters, in order to expand the chain further with the addition of 18 new stores and increase its stake in Hypercity Ratail (India) Ltd from the current 19% to 51%. The Company’s board meet is scheduled for Jun30 to decided on this. Hypercity will open four new outlets to take the tally to 11 by March 2011 and 35 stores by 2015. The Shopper’s Stop board has approved the issue of 4 million shares to QIPs. Govind Shrikhande, customer care associate, president and chief executive of Shopper's Stop, met investors in New York and London this month and expects the QIPs to happen within the next two months. The optimism stems from a strong recovery in the retail sector and within Shopper’s Stop, Shrikhande said, “Same store sales in the April-June quarter are higher by 20% from a year ago.“ Renovation plans of the existing stores are also on the anvil.