The V-Mart Retail Limited raised Rs.26.25 crores through the pre-Initial public offer placement of 12.5lakh shares at a price of 210 per share.”The company has made a pre-IPO placement of 1,250,000 equity shares of the face value of Rs 10 each at a price of Rs 210 per equity share to pre-IPO investors, namely Antique Finsec, Antique Stock Broking, Four Dimensions Securities (India), Lata Manek Bhanshali,
Merit Credit Corporation and Tejal Rohit Kothari”.
The company had filed a draft red herring prospectus (DRHP),for its proposed IPO with market regulator SEBI
of 44.96 lakh equity shares.It proposes to utilize funds,which are being raised through IPO,to open 60 new
stores,for the expansion of distribution centers, for working capital requirements,for general corporate
purposes and to meet the issue expenses.