V2 stores from Vishal Retail founder

After selling off stores and assets of debt-ridden Vishal Retail, the company's founder R C Agarwal ready to roadmap another plan in the retail space with a chain of stores under the ' V2  brand within the next 2-3 months.

The new venture will be rolled out under the already publicly listed, Vishal Retail Ltd with an initial investment amount of Rs 8 crores.

In March this year, Vishal Retail Ltd sold off the wholesale and franchise business to private equity firm TPG and the retail undertaking to Chennai-based Shriram Group for a total consideration of Rs 70 crore.

At this initial stage, Agarwal is looking to come up with five hypermarkets to begin with in Himachal Pradesh, Rajasthan, UP and Jharkhand.