[MyFamilyInvestment] V-Mart Retail IPO

[Blogger]

V-Mart Retail, a Delhi based multi-brand retail chain, has come out with an IPO of 57.46 lakh equity shares comprising of a fresh issue of 40.11 lakh shares and an offer for sale of 17.35 lakh shares by Naman Finance and Investment Private Limited. The issue will constitute 32 percent of the post issue paid-up capital. The company primarily operates in Tier-II and Tier-III cities, with a chain of “value retail” departmental stores offering apparels, general merchandise and kirana, catering to the entire family. Its operations are spread across northern, western and eastern parts of India. V-Mart that opened its first store in Ahmedabad in 2003 currently owns and operates 59 stores spread across 51 cities, with a total area of 4.82 lakh square feet.

The IPO shall open on 1 February, 2013 and shall close on 5 February, 2013. The price band for the issue has been fixed at Rs 195-215 per share. The company will raise more than Rs 120 crore (at higher price band) through the issue.

The company intends to utilize the proceeds of the IPO for opening 60 new stores, expansion of distribution centres, working capital requirements and general corporate purposes.

Anand Rathi Advisors Limited is the book running lead manager to the issue.

Recommendation:

Visit this post again for recommendation details!

--
Posted By Blogger to MyFamilyInvestment at 1/25/2013 10:40:00 AM