Retail in Asia

In Sectors

Bankers to decide fate of India’s Vishal Retail

The largest lender of India’s Vishal Retail, the State Bank of India (SBI), is negotiating with new investors to try to help the beleaguered retailer.

Currently private equity player TPG has signed an MoU (memorandum of understanding) with Vishal Retail to help it make a turnaround in the business.

At the same time a corporate debt-restructuring package is on the cards comprising the retailer’s biggest lender SBI along with a clutch of other banks.