Spencer's

Spencer's Retail Ltd on Friday said its CEO and Managing Director Devendra Chawla has resigned. In a regulatory filing, the company said Chawla has tendered his resignation from the position of CEO and Managing Director and also as a Director from the Board of the company with effect from January 20, 2023. Chawla joined the RP Sanjiv Goenka Group in 2019 as its chief executive officer and managing director for a three-year term. Earlier, he was the chief operating officer of Walmart India. Meanwhile, Eversource Capital-promoted shared electric mobility player GreenCell Mobility announced the appointment of Chawla as its new CEO and he will report to the company's board. Eversource Capital Vice Chairman - Everstone Group and CEO Dhanpal Jhaveri said Chawla's experience of successfully leading many customer-centric businesses will help GreenCell grow into India's leading green surface transport company. He has over 26 years of experience, holding various leadership positions, includ

RP-Sanjiv Goenka Group arm Spencer's Retail Ltd on Wednesday reported narrowing of its consolidated net loss to Rs 26.77 crore for the third quarter ended December 2021

We want to ensure that the new stores we open become profitable from the first year itself and add to the bottomline, said Goenka

BevCo, the sole wholesaler of liquor in West Bengal, also invited two Kolkata-based companies -- Senrysa Technologies Pvt Ltd and Golden Goenka Commerce Pvt Ltd for the signing of agreements

Each of the stock option, when exercised, will be converted into one share of the company

This will give Spencer, a part of RP Sanjiv Goenka Group, access to western part of India.

Spencer's is expected to be demerged from its mother company -- CESC Ltd -- shortly and this is when it will have to arrange for its own funds to keep its hold onto the retail space

For the last six months, Spencer's has been EBITDA positive