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V-Mart Retail to open 60 stores ; raise fund through IPO

Posted on Jan 31, 11:31AM | UNI

Jaipur, Jan 30 : V-Mart Retail Limited-the owners of chain of retail stores-, will open 60 more stores/showrooms in different towns in the country.

The company with an experience of a decade in retail chain business, has presently been working through its 62 stores/show rooms in 53 cities, Company Director Lalit Agrawal said today.

Talking to reporters here, Mr Agrawal said company mainly doing business in apparel, general merchandise and grocery items was targeting middle-class families in tier-2 and tier-3 towns.

For funding its expansion programme the company was entering the capital market with initial public offer(IPO) of 44,96,000 equity shares in the price band of Rs 195 to Rs 215 per share.

"The issue opens on February 1 and closes on February 5", he said.