Kotak Mahindra (International) has reduced its stake in V-Mart Retail by selling over 10 lakh shares in the open market for an estimated Rs 51 crore. Kotak Mahindra (International), which had 9.43% stake earlier, brought down its shareholding in the company to 3.88% on May 18.
V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities including Sultanpur, Ujjain, Motihari. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family.
