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Global private investment firm, TPG has evinced interest in acquiring a majority stake in crisis-hit Vishal Retail, which has gone in for corporate debt restructuring (CDR). Investment banking sources said TPG has made a Rs 250-crore offer for the stake held by Vishal Promoter and Chairman Ram Chandra Agarwal, before the CDR cell.
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Gini & Jony to raise Rs 125 cr through IPOHindu Business Line Kidswear brand Gini & Jony plans to raise up to Rs 125 crore through an Initial Public Offer (IPO) by October this year, a senior company official said here. "We have already filed our draft red herring prospectus with the Securities and Exchange Board of India (Sebi) and expect to raise Rs 100-125 crore by September-October through the IPO," Gini & Jony Vice-President (Sales) Mr Vikash Sharma said.
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Ram Chandra Agarwal, founder and managing director of Vishal Retail Ltd, says he is prepared to step down as the head of the company, if it helps the beleaguered retailer.
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