| Company executives told Business Standard that private equity players will be roped in before the chain goes in for a public listing towards the end of the next financial year. |
| Viveks, which has 54 stores in across Tamil Nadu and Karnataka, intends to tap the growing durable retail markets in other southern states like Andhra Pradesh and Kerala. |
| B A Kodandaraman Setty, chairman and managing director, Viveks told Business Standard, "In the next three years, the company plans to open 100 stores in south India and the group is in talks with some private equity firms to raise funds for the same." |
| "The company is also considering an entry into the capital market with an initial public offering by 2007-08," he added. |
| Explaining the rationale behind preferring private equity funds prior to the public offering, he said, "The government's policy on foreign direct investment would be much clear by then." |
| Setty added, "Viveks wants to capture the full potential of existing markets in the region and then expand into newer markets. "We would like to build a healthy topline and bottomline and increase our market share before entering the capital markets. |
| Speaking about a possible tie-up with an international firm and reports about the Tata Group's Infiniti Retail eyeing a stake in the group, Setty said, "With more than four decades of experience, Viveks is exploring all the possibilities for expansion. However, it will not be correct to comment on speculation." |
| Viveks has three retail brands "" Viveks, Jainsons and Premier "" in its portfolio. |
| "Consumer durable retailing is undergoing a transformation in India. South India is an important market as it contributes about 30 per cent of India's consumer durable sales," said Setty. |
| In March 2006, the company clocked turnover of Rs 330 crore and is expected to touch Rs 400 crore by March 2007. |
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