Kiran

Discount retailer Vishal Retail Ltd is looking at raising up to 2 billion rupees through share sale to fund its expansion plans, a senior company official said on Thursday.

"We will do between 1-2 billion rupees based on whatever the market dynamics permit," Manmohan Agarwal, chief executive, corporate affairs, told Reuters over telephone. He said the firm was confident of achieving 18 billion rupees revenue this fiscal as the current challenging market conditions were positive for the value retailer.

"We are much better off today than where we were, when brands were more preferred. We have a better edge than what we had three quarters ago," he said.