Madan Gopal Agarwal on Wednesday bought 5.27 per cent stake comprising 10,41,953 shares of V-Mart Retail Limited from Lalit Agarwal, the company announced through an exchange filing. The shares were acquired on both National Stock Exchange and Bombay Stock Exchange.
The 10,41,953 shares were directly acquired from Lalit Agarwal, exempting him from making open offers under inter-se transfer of shares among immediate relatives regulation. The cost of the acquisition of shares was not revealed in the regulatory filing.
Post the acquisition the stake of Lalit Agarwal lowered to 1.19 per cent consisting of 2,35,323 shares from the previous 6.467 per cent that consisted of 12,77,275 shares.
V-Mart opens new stores in India
Apparel chain V Mart opened 17 new stores across India in April while it shut down eight.
V-Mart Retail shares
The shares of V-Mart Retail on Wednesday afternoon at 12:42 pm IST were trading at Rs 2,147.95, up by 0.17 per cent.