Reported talks are underway between Kedaara Capital and Partners Group, a private equity firm, and TPG and Shriram Group for the acquisition of Vishal Mega Mart, the largest Fashion-led hypermarket chain in India.
The retail chain currently operates more than 204 stores spread over an area of over 3 million square feet in 110 cities and towns in the country.
It is being reported that Vishal Mega Mart’s acquisition deal is likely to be sealed at around Rs. 5,000-5,300 crores. The final announcement will be made next month. Markedly, Vishal Mega Mart reported sales of Rs. 3,000 crores in fiscal 2016.
Vishal Mega Mart is “positioned uniquely in the retail segment, driven by its favourable product mix and target segment”, said Crisil in its latest report.
Fashion, general merchandise and grocery and household products form major offerings of Vishal Mega Mart in Tier-I, II and III cities and towns while offering the best price and choice to customers across the country.
If materialised, this will be the biggest retail acquisition till date in India, in terms of the transactional amount. However, both the parties involved have not shared an official statement on the deal.
Notably, the impending acquisition deal report surfaced in a business newspaper in the month of February 2018 as well.