*Mahindra Retail Pvt Ltd*, which runs the Mom & Me stores, is looking to raise a second round of equity funds from private equity investors
At present, Mom & Me has 12 stores nationwide set up at an outlay of around Rs 100 crore. They are planning to set up 30 new stores this year. Besides key metros, they will be focusing on cities such as Ludhiana, Chandigarh, Baroda and Calicut. Their target is to reach 100 stores It may have to raise up to Rs 443 crore in the second round of funding over the next quarter or so. Mahindra Retail received the first round of equity funding from *ICICI Venture’s IAF Series 2 fund*, in return for around 26 per cent stake. Transaction Note Mahindra Retail is a part of *Mahindra Partners *which was set up to make proprietary investments in new businesses. Recently the M&M transferred seven non-core businesses under Mahindra Partners. The businesses which have come under Mahindra Partners include Mahindra Intertrade, which trades in steel and steel related services. This business also includes units like Mahindra Steel Service Centre and Mahindra MiddleEast Electrical Steel Service Centre. Other businesses are Mahindra Logistics; Mahindra Ocean Blue Marine, a JV with Ocean Blue Boating, in the leisure boating space and Mahindra Engineering & Chemical Products, which supplies material handling equipment and system -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
