India''s largest mass market discount retail chain Subhiksha Trading Services Ltd, has delayed its initial public offer (IPO) plans to the end of the year. Subhiksha said it has enough money to fund its expansion and will go in for a listing in third quarter of the current financial year. The Chennai-based retailer being advised by Enam Securities on the IPO was earlier supposed to hit Dalal Street by July but now these plans are put to back burner. The roll-back comes at a time when the Indian consumer is slowly but steadily getting ready for a future in organised retail.
Subhiksha currently has 1300 outlets pan India and plans to open a total of 2200 stores by year end with an investment of Rs 300 crore. Having started off as a quaint chain from Chennai Subhiksha has become the retail chain with the largest number of stores across the country but it will be the IPO by the end of the year which will catapult this chain into the big league of listed retail players.
Subhiksha currently has 1300 outlets pan India and plans to open a total of 2200 stores by year end with an investment of Rs 300 crore. Having started off as a quaint chain from Chennai Subhiksha has become the retail chain with the largest number of stores across the country but it will be the IPO by the end of the year which will catapult this chain into the big league of listed retail players.
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