The Piramal family will soon regain control of the mall in Central Mumbai that provided many in this sprawling megapolis their first experience of shopping outside the neighbourhood corner store. A real estate fund owned by Ajay Piramal will buy a majority stake in the company owning the mall, SoBo Central, from the…
Vishal Retail may become a shell company on Texas Pacific recast
July 14, 2010 By Leave a Comment
Cash-strapped Vishal Retail may soon become a shell company if the restructuring package proposed by lenders is implemented. Texas Pacific Group (TPG), which has agreed to infuse Rs 500 crore, has put in a condition that…
RoC submits report on Subhiksha to Corporate Affairs Ministry
July 9, 2010 By Leave a Comment
The Registrar of Companies (RoC) southern region on Friday said it has submitted its report on troubled retailer Subhiksha to the Ministry of Corporate Affairs. “Our report is already given (to MCA)…From our side, everything is over. There is nothing pending from us…
Amazon enters online grocery market
July 7, 2010 By Leave a Comment
Amazon today launched a grocery division offering free delivery on thousands of household goods. The online retailer, which launched in the UK in 1998 as a bookseller, will offer 22,000 top grocery lines including Pampers, Ariel, Uncle…
Gitanjali to add 300,000 sqft, enter China and Middle East
July 7, 2010 By Leave a Comment
Gitanjali Gems Ltd, India’s biggest jewelry retailer, plans to open about 500 stores by the end of the financial year as it seeks to tap demand in the world’s biggest gold-buying nation. The company plans to add 300,000 square feet of retail space in the year through March…
Retail stocks get FDI proposal boost
July 6, 2010 By Leave a Comment
The stocks of retail firms today soared as much as 5 per cent, led by Pantaloon Retail India, after the government pitched in for foreign direct investment in the sector. Shares of Pantaloon Retail settled up …
Open-up FDI in multi-brand retail
July 6, 2010 By Leave a Comment
Making out a strong case for opening up the multi-brand retail sector for foreign investment, the Industry Ministry today sought the views of different stakeholders asking whether FDI in the sector should be permitted. “FDI in retail may…
Shoppers Stop eyes around Rs 1,000 crore revenues from Hypercity
July 4, 2010 By Leave a Comment
K Raheja-promoted retail chain Shoppers Stop, which has a majority stake in the group’s hypermarket format Hypercity, expects the latter to be profitable at the company level in FY 12 …
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