RPG group-owned Spencer's Retail, a leading multi-format retailer, plans to raise funds for its expansion, a top company official said.
Spencer's CEO, Vineet Kapila, said the company is holding talks with private equity players to raise funds.
“We are in talks with some private equity players to raise funds,” Kapila told reporters here today.
He, however, did not divulge the amount the company proposes to raise.
Kapila further said that Spencer's planned to add some more new stores.
There was a good growth opportunity in same-store sales this fiscal, he said, adding some of its stores were also expected to break-even by end-this fiscal.
With 250 stores, including 36 large-format stores across 50 cities in India. Spencer's focuses on verticals like food and grocery, fruit and vegetables and FMCG goods.
Source: Samay Live