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Jul 24, 2012 07:43 PM IST | Source: Moneycontrol.com

V-Mart Retail files IPO papers with SEBI

New Delhi based retail departmental store chain V-Mart Retail proposes to tap capital market with a public issue of 57.46 lakh equity shares of face value of Rs 10 each; for which the company has filed draft red herring prospectus with SEBI.

V-Mart Retail files IPO papers with SEBI

New Delhi based retail departmental store chain V-Mart Retail proposes to tap capital market with a public issue of 57.46 lakh equity shares of face value of Rs 10 each; for which the company has filed draft red herring prospectus with SEBI.


The issue comprised of a fresh issue of 40.11 lakh equity shares by the company and an offer for sale of 17.35 shares by Naman Finance and Investment Private Limited..


Company is also considering a pre-IPO placement of upto 12.5 lakh shares and aggregating upto Rs 31.25 crore with certain investors.


V-Mart operates in Tier-II and Tier-III cities, with a chain of value retail departmental stores that offering apparels, general merchandise and kirana. Currently it owns and operates 59 stores spread across 51 cities and 10 states and union territories, with a total area of 4.82 lakh sq ft.


Company intends to utilise the funds (fresh issue) for opening 60 new stores; expansion of distribution centres; and working capital requirements.


Profit after tax grew by 69.4% year-on-year to Rs 10.61 crore in the year ended March 31, 2012 and revenues rose by 31% to Rs 281.95 crore.

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

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