V2 stores from Vishal Retail founder
After selling off stores and assets of debt-ridden Vishal Retail,
May 07, 2011 | comments ( 0 ) |
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.
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