Valuemart Retail to mop up Rs 10 crore via preferential issue

28 Nov 2011 Evaluate

Valuemart Retail Solutions (formerly known as Residency Projects & Infratech), is planning to mop up Rs 10 crore through a preferential issue of share to its promoter and other strategic investors.

The fund raised from the preferential issue will be used to extend its national foot print in the travel and hospitality sectors by setting up offices and travel lounges across the country. This will enable the company to increase its turnover and profitability.

The travel industry in India is experiencing a strong period of growth, driven by the burgeoning middle class, growth in high spending foreign tourists and the sustained government campaigns to promote incredible India. Online travel booking in India is growing very rapidly and fast replacing offline booking. In 2010, Indian Online travel sites recorded a 50% growth over the previous year.

Valuemart Retail (India) offers business to consumer solutions, smart cards, web-based solutions for retail and financial services sectors, RFID solutions.

Peers
Company Name CMP
LIC Housing Finance 582.45
Housing & Urban Dev. 242.15
Bajaj Housing Financ 126.30
Sammaan Capital 152.45
PNB Housing Finance 867.90
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