Vishal Retail to invest Rs 200cr, open 40 stores

New Delhi-based Vishal Retail is planning to invest Rs 200 crore to set up 40 additional stores, mostly in north India.

"In addition to 53 stores that we have at the moment across 41 cities, we want to put up 40 more in the current fiscal year with an investment of Rs 200 crore," Ramchandra Aggarwal, managing director, Vishal Retail said today.

The company would use Rs 110 crore, which it had raised through an IPO earlier this year, for expansion and raise the remaining Rs 90 crore as debt from domestic financial institutions.

"We are in the process of tying up the debt portion," Aggarwal said.