Delhi-based Vishal Retail said in a filing to BSE in an outcome of the Annual General Meeting that it will increase the borrowing limit of the company to Rs 750 crore over and above the aggregate of the paid up capital and free reserves of the company.
The retail wing has earlier said that it would open 70 more stores at a cost of around Rs 700 crore by the end of this year. Vishal Retail has more than 120 stores at present while it plans to expand it to 190 by March 2009.