Business Standard

Sunday, January 26, 2025 | 07:39 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Checking out of 24Seven: Godfrey sees exit valuation of Rs 700-1,000 cr

Low margins and escalating real estate prices are primary drivers for exiting the 24Seven business

24seven
Premium

Expected profitability within the next two years makes it an attractive investment opportunity

Surajeet Das Gupta New Delhi

Listen to This Article

This report has been updated

Godfrey Phillips India (GPI), the owner of the convenience store chain 24Seven, expects a valuation ranging from Rs 700 crore to Rs 1,000 crore for its exit from the business.

In a statement to Business Standard, Samir Modi, executive director of GPI and founder-president of 24Seven, said, “The GPI board has decided to exit the business, and the process is underway. We expect a valuation at 1.2-1.5 times our revenues.”

He further said: "I wear two hats, one is of executive director of GPI, and the other of the founder of 24Seven. I personally

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in