IPO of V Mart will open for subscription on Feb 1. It has fixed the price band for it IPO of Rs. 195 to 215.
Avoid this IPO . Costing is very High. This sector is not good. Look at your city all Marts currently closing or reducing their malls all company.
V-mart IPO Allotment Details Listing Date 20 Feb 2013
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V Mart Retail setting up stores across various small indian towns and cities including, Sultanpur, Ujjain, Motihari. They primarily operate in Tier-II cities, with a chain of ” value retail” department stores offering apparels, general merchandise and kirana , catering to the entire family. Base in New Delhi, their operation across Northern , western and eastern part of India.
They open their first store by the name of ” V-Mart” at Ahmedabad, Gujarat and currently own and operate 62 store spread 53 cities and 10 states. The average size of their store is appro. 8000 sq ft .
The object of the issue are to finance the expansion plans, part sale of equity share of selling shareholders and achieve the benefit of listing on the Stock Exchange. They believe that listing will enhance their corporate image and brand name.
Object of Fresh Issue
- To open 60 new stores
- Expansion of new Distribution ceteres
- Working capital requirement
- General corporate purpose
- To meet the issue expense
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