Wasatch Advisors increases stake in V-Mart to 7.04%

V-Mart is a value fashion and lifestyle products retailer and primarily operates in tier-2, tier-3 and tier-4 cities of India. Three-fourths of V-Mart stores are located in four states — Uttar Pradesh, Uttarakhand, Jharkhand and Bihar.

Last month, the company announced that it plans to treble its turnover to ₹3,500 crore and double its store count in the next five years by investing ₹300 crore. It will fund the expansion through internal accruals.

In 2017-18, the company had reported a revenue of over ₹1,200 crore. (RKS)

ALCHEMPro News Desk – India