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V-Mart to double store count through public issue
01
Feb '13
Indian value retailer, V-Mart Retail Ltd. (VMRL) is raising Rs 123.5 crore through a public issue 57.46 lakh equity shares, which will primarily be used to double the store count of the New Delhi-based retailer.

V-Mart is a medium-sized hypermarket format retail chain that was incorporated in 2002. V-Mart a multi-brand family store, offers mainly apparels and general merchandise.

V-Mart Retail Ltd. is one of the pioneers in setting up stores across various small Indian towns and cities and primarily operates in Tier-II and Tier-III cities. Its operations are spread across northern, western and eastern parts of India.

V-Mart opened its first store at Ahmedabad, Gujarat in 2003 and currently owns and operates 62 stores across 53 cities in 10 states and union territories.

Its stores are located in New Delhi, Gujarat, Uttar Pradesh, Bihar, Punjab, Chandigarh, Haryana, Jammu and Kashmir, Rajasthan and Madhya Pradesh.

The company follows the concept of value retailing to target mainly the population coming from the expanding aspiring and middle class.

Its offerings provide customers with a different shopping experience, comprising of a vast range of value retail products under a modern ambience and feel of a large retail mall.

Fibre2fashion News Desk - India

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