Birla enters the Indian retailing industry with an acquisition

The AV Birla group has expressed their desire to enter the Indian retailing scene with the acquisition of Hyderabad-based supermarket chain Trinethra Super Retail.

In addition, they have also acquired the online shopping outfit, Fabmall.

Market sources claim that the company would fund these acquisitions through unlisted units. Other sources claim that the company is considering investing Rs 5,000-Rs 6,000 crore at least in the initial phase.

The Indian retailing scene is heating up with Reliance entering in a big way with their Reliance Retail brand. Subhiksha is expanding their operations in the North Indian market fast. Bharti is working with Wal-Mart to enter the segment in a big way.

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