Vishal Retail to raise Rs 110 crore via IPO
Ahmedabad: Retail chain Vishal Retail, which operates 50 Vishal Mega Mart stores across the country, is planning to raise Rs110 crore through an initial public offering to fund its expansion plans.

The issue is being made through 100 pc book building process, where in at least 60 pc of the net issue would be allotted on a proportionate basis to qualified institutional buyers, company officials said here today.

The offer opens on June 11 with a price band of Rs230 to Rs270 per equity share of Rs10.

The officials said Vishal Retail targeted Tier 2 and Tier 3 cities, to offer wide range of products including footwear, toys, watches, toiletries, grocery and sports items to people belonging to the lower and middle income groups.
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