Subhiksha Group Valued at $500 Million
Friday, September 05, 2008
The Subhiksha retail group consisting of Subhiksha Supermarkets and Subhiksha Mobile Retail chain has been valued at $500 Million as on today.Subhiksha has 1,590 stores on PAN India basis selling Grocery and Mobiles. It plans to enter the consumer durables space as well as establish large format stores - Hypermarkets.
Wipro Technologies Chairma, Mr. Azin Premji picked up a 10% stake in Subhiksha Retail at $50 million in his personal capacity. ICICI Venture Capital holds 23% stake while sister company ICICI Mutual Fund holds another 5% and the balance 3% is with the ESOP.
On exit options to the VCs, Ms Bala Deshpande of ICICI VC and Board Member of Subhiksha said,
We look at what works best for the company and shareholders; the company's interests are first. We will look for an opportune time.Mr. R. Subramanian founder and CEO has set an ambitions target of making Subhiksha a $5 billion company by the end of 2011; ten times the current valuation in 3 years :-) Your views ?
Posted by Retail Reporter @ 10:22 AM
1 Comments:
subhiksha have not paid our 3 months salary & this md rs subarmainayam talking about his bluddy target by 2011
he is a chor,he don't knows a company can't do anything without employees
he bluddy is playing with our career.he has even not a rupee & talking about 5 billion.
so if this comment is reading by managment or md of subhiksha
then we r warning u be carefull bcoj we employee is now planning to do something about u n company
u know if ur company will be 5 billion valuation then u will not find even a employee for makes it 10 billion
so abhi bhi waqt hai samajh ja warna sailaab aaye ga
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