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Our Bureau

New Delhi, Dec. 5

Vishal Retail Ltd (Vishal) has filed its draft red herring prospectus with the Securities and Exchange Board of India to enter the capital market with its initial public offering of equity shares.

The company proposes to raise up to Rs 110 crore through the IPO and proposes to list its equity shares on the Bombay Stock Exchange and the National Stock Exchange.

Mr Ram Chandra Agarwal, Managing Director of Vishal Retail, said: "The IPO is a significant milestone in realising our larger corporate vision. It would help us further scale up in the emerging retail landscape."

The book running lead manager to the issue is Enam Financial Consultants Private Ltd.

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