Vishal Retail surges on acquisition talks

MUMBAI: Shares of Vishal Retail shot up sharply after media reports that TPG Capital LP would acquire the company subject to share holders approval.

Vishal Retail’s has total debt of around Rs 7300 crore and it seems the lenders involved in its corporate debt restructuring have approved TPG Capital’s offer.

At 10:50 am, the stock was at Rs 57.40, up Rs 3.30 or 6.10 per cent on the NSE. It touched a high of Rs 59.55 and low of Rs 55.15 in trade so far.