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Our Bureau

Chennai , Sept. 6

WITH major expansion plans on the anvil Vivek Ltd plans to raise fresh capital through private equity or an initial public offering.

Mr B.A. Kodandarama Setty, Chairman and Managing Director, Viveks, said that the company would divest about 25 per cent in the next four to six months.

Mr Setty said that the expansion plan involves setting up another 50 retail outlets in the South, mainly Tamil Nadu and Karnataka, before venturing into markets in the northern and western region. The Rs 350-crore Viveks currently has a chain of 52 outlets in Tamil Nadu and Karnataka.

He said that the retail sector in India is going into a boom period and potential investors are keen to participate in retail ventures. The only way to survive in this market is to grow and gear up to face the challenges when the Government opens up foreign direct investment in retail, he said.

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