V2 Retail enters into share pledge agreement with SBI CAP Trustee Company

V2 Retail has entered into share pledge agreement on June 05, 2012, with SBI CAP Trustee Company, trustee appointed by lender bank. Pursuant to this, the promoters have pledged their 51% shares with the SBI CAP Trustee Company on June 14, 2012.

Earlier, pursuant to master restructuring agreement dated November 11, 2010, it was obligatory on promoters to pledge lower of either ‘total shareholding’ or ‘51 % shareholding’ of the paid-up capital of the company.

V2 Retail is a pioneer in bringing the concept of hyper-markets in India. Its retail store caters to the needs of all age groups -- from kids to senior citizens. The stores provides a wide range of products and services in area of home furnishing, food and beverages, sports and fitness, footwear, mobile solutions, apparels, travel accessories, household and stationary.