Moneycontrol
Feb 19, 2013 04:09 PM IST | Source: Moneycontrol.com

V-Mart Retail to list shares on February 20

New Delhi-based multi-brand retail chain V-Mart Retail will list its equity shares on bourses on Wednesday, February 20, 2013. The issue price is fixed at Rs 210 as against price band of Rs 195-215 per share.

V-Mart Retail to list shares on February 20

New Delhi-based multi-brand retail chain V-Mart Retail will list its equity shares on bourses on Wednesday, February 20, 2013. The issue price is fixed at Rs 210 as against price band of Rs 195-215 per share.


The issue, which opened during February 1-5, was subscribed 1.20 times, helped by all kind of investors (retail, QIBs and HNIs).


The reserved portion of qualified institutional investors subscribed 1.52 times, non institutional investors 1.39 times and retail investors 0.79 times.


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 currently owns and operates 59 stores spread across 51 cities, with a total area of 4.82 lakh square feet.


Retail chain operator raised more than Rs 90 crore through this issue, which are proposed to be used for opening 60 new stores, expansion of distribution centres, working capital requirements and general corporate purposes.

Also Read - Sunstar IPO: Questionable stake-shifting, pricing go unnoticed

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