V-Mart Retail

Fashion retailer V-Mart Retail Ltd on Monday said it will acquire online marketplace LimeRoad, in a move which will help the company expand its presence in the omni-channel space. The company has signed a "business transfer agreement with A M Marketplaces (LimeRoad) and certain other parties for the acquisition of its LimeRoad business as a going concern on a slump sale basis," said V-Mart Retail in a regulatory filing. Over the nature of consideration, V-Mart said: "for the acquisition of LimeRoad business, the company shall pay lump sum cash consideration of Rs 31.12 crore, which amount shall be subject to adjustments as mutually agreed between the parties." Moreover, V-Mart is also "acquiring assets worth Rs 14.61 crore and assuming current liabilities of Rs 36.26 crore", which shall be subject to adjustments as mutually agreed between them, it added. LimeRoad's net revenue in FY22 was Rs 69.31 crore. In a statement, V-Mart said: "Given the underlying strong unit economics post

HSBC Bank Mauritius on Monday offloaded 13.91 lakh shares of retail company V-Mart Retail for Rs 392 crore through an open market transaction. According to the bulk deal data available with the BSE, HSBC Bank Mauritius Limited AC Jwalamukhi Investment Holdings sold 13,91,826 shares, amounting to 7.04 per cent stake in the company. The shares were disposed off at an average price of Rs 2,816.29 apiece, taking the transaction value to Rs 391.97 crore. Meanwhile, Plutus Wealth Management LLP picked up 11,45,000 shares of the company. As of June quarter, HSBC Bank Mauritius Limited AC Jwalamukhi Investment Holdings owned 7.04 per cent stake in the company, shareholding pattern showed with the bourse. On Monday, shares of V-Mart Retail settled 3.49 per cent lower at Rs 2,892.75 apiece on the BSE.

The festival season kicks off with Onam end-August right through Diwali in October

Analysts believe that the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment, and discretionary purchases bounce back from Covid-19 pandemic

The company would receive cash consideration estimated at about Rs 150 crore upon the closure of transaction and thus, will fully recover the capital employed in the business

Higher raw material costs will put pressure on profitability

V-Mart Retail on Wednesday said it has raised Rs 374.99 crore

Convenience and comfort of ordering from homes apart from discounts pushing people to choose e-commerce over offline

For the quarter ended June 2020, V-Mart reported a loss of Rs 33.64 crore as against net profit of Rs 17.60 crore in the year-ago period.

At the heart of the matter are revenue-share rental agreements that retailers are mooting over fixed-rent contracts that they say are unsustainable

Future Group also has plans to invest Rs 350 crore to open 140 exclusive outlets in the next two years.

V-Mart has already opened 20 new stores this fiscal and now operates 233 outlets.

Same-store sales growth down to 2-7% in Q1, lower than 3-9% reported in Q4

Its total expenses in period under review stood at Rs 2.72 billion

V-Mart Retail hit a new high of Rs 3,036, surges 7%, extending its 14% gain in past three trading sessions on the BSE.

The stock hit a new high of Rs 2,405, zoomed 1403% in past five years from Rs 160 against 76% surge in the S&P BSE Sensex.

V-Mart's shares surged more than 10-fold since IPO in 2013

The stock was trading 13% higher at Rs 2,198 on the BSE, as compared to 1.1% decline in the S&P BSE Sensex at 02:51 pm.

The stock hit a new high of Rs 2,103, up 11% on the BSE after promoters of the company re-align their shareholding in the company through block deals in early morning trade on Tuesday.

The stock hit a new high of Rs 1,459, surges an over 200% so far in 2017, against 18% gain in Sensex