RC Agarwal, chairman, Vishal Retail said, it would approach foreign retailers only when the final verdict on proposed 51% FDI in multi-brand retail comes in.
Vishal Retail is all set to repay their debts amounting Rs 30 crore and infuse a total sum of Rs 20 crore with a hopeful property sale. “The market price of the property is around Rs 50 crore.
In an interview with CNBC-TV18, RC Agarwal, Chairman, Vishal Retail said the company is opening nine V2 stores. “Out of nine stores, five will be open in Delhi and three in Himachal Pradesh and one in Jharkhand. These stores will start operation till July 15,” he added.