Spencerís abandons its IPO plan
Spencerís, a retail vertical of RPG Retail is planning to carry out its expansion plan internally.
May 23, 2008 | comments ( 0 ) |
Spencerís, a retail vertical of RPG Retail is planning to carry out its expansion plan internally. Harsh Goenka, the chairman of the company has revealed that its plan to go for IPO has been abandoned. Instead, the company will raise the fund to fuel its expansion drive through internal accruals and debt. Currently Spencer`s has four retail formats, namely, Spencer`s Express, Spencer`s Daily, Spencer`s Super and Spencer`s Hyper. Spencer`s is pondering for tie-ups with foreign brands across its all retail verticals and these tie-ups in standalone retail chain and shop-in-shop formats will be in the form of subsidiary companies.
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