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.
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