The acquisition of Trinethra Super Retail would put the Aditya Birla group ahead of competition, including Reliance, analysts tracking the development said.
Sources said the company would rope in private equity players in the next round of financing within a year. After reaching a particular scale, the company would also come out with an initial public offer, they added.
Anil Ambani Group company Reliance Capital has acquired a 4.98 per cent stake in an infra developer Trinethra Infra through an open market transaction.
Aditya Birla Retail is looking to increase its total number of supermarkets in the country to 500 by March, Sumant Sinha, CEO, Aditya Birla Retail said. "From the current 350 we will be scaling up our supermarkets to 500 by March 2008," he said, while announcing the re-branding of Fabmall grocery supermarkets to 'more'.
Sumant Sinha, CEO, Aditya Birla Retail, says that Trinethra's doing well, but he's worried about high real estate prices.
Overseas operations already account for nearly 30 per cent of the group's revenue now and the Novelis acquisition would go a long way in fulfilling group chairman Kumar Mangalam Birla's ambition
Labelled 'More', first store expected in Pune in June.
The $24 billion diversified Aditya Birla Group on Friday announced its entry into domestic organised retail market with an investment of up to Rs 9,000 crore (Rs 90 billion) over three years to set up 1,000 supermarkets.
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
PE firm True North's investment model is to take 51% stake in mid-sized companies and make them large, says Niraj Bhatt.
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