Retail in Asia

In Sectors

Ailing Indian retailer Aditya Birla Retail looking to raise private equity funding

The INR1,450 crore (INR14.5 billion, USD319 billion) Aditya Birla Retail Ltd, which runs the More supermarket chain, announced it is interested in selling a 10-15 percent stake in its company to private equity players to boost its retail operations. Currently, the retailer is funded by debt, but is looking to raise funding through private equity or is considering finding a strategic partner.