Vishal Retail plans to float IPO
Hyderabad: Delhi-based retail chain Vishal Retail, may float an IPO in September or early October.

Dipu Gupta, president (West and South), Vishal Retail said the process was on to announce the public issue next month but he did not mention the size of the issue. The IPO would help the company partly fund the upcoming expansion plans. The company currently runs a network of 36 malls in 28 cities and plans to expand the network to 60 by the end of the financial year. The new locations would include Surat, Bangalore and Hubli.

The company, which registered a turnover of Rs300 crore turnover last year, was targeting Rs700 crore this financial year. It hoped that increased spread would help it achieve the target.
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