Wasatch Advisors, a US-based research-driven, employee-owned firm with 18 mutual fund offerings, has increased its share in V-Mart Retail to 7.04 per cent from the earlier 5.01 per cent. Wasatch has bought shares from open market on July 24 at an estimated value of ₹88.23 crore. V-Mart currently operates about 180 outlets in 14 states in India.V-Mart is a value fashion and lifestyle products retailer and primarily operates in tier-2, tier-3 and tier-4 cities of India. Three-fourths of V-Mart stores are located in four states — Uttar Pradesh, Uttarakhand, Jharkhand and Bihar.
Last month, the company announced that it plans to treble its turnover to ₹3,500 crore and double its store count in the next five years by investing ₹300 crore. It will fund the expansion through internal accruals.
Wasatch Advisors, a US-based research-driven, employee-owned firm with 18 mutual fund offerings, has increased its share in V-Mart Retail to 7.04 per cent from the earlier 5.01 per cent. Wasatch has bought shares from open market on July 24 at an estimated value of ₹88.23 crore. V-Mart currently operates about 180 outlets in 14 states in India.#
In 2017-18, the company had reported a revenue of over ₹1,200 crore. (RKS)
Fibre2Fashion News Desk – India