Related Keywords: Alok Industries, consolidation phase, investment banker, joint venture, land in Mumbai, New York based, Next Creations, non-core assets, sell, Silvasssa, Store 21, textile major, UK retail chain, Vapi
Alok Industries, textile major is in view of raising Rs 2,000 crore by selling its UK retail chain, Store 21, and well as land in Mumbai, Vapi and Silvassa over the next two years for which investment bankers have been appointed.
At the moment, the company’s focus is selling all their non-core assets as they are in a consolidation phase and will not expand for at least the next three to four years, said Chief Financial Officer Sunil Khandelwal.
They also have plans to sell its land in Mumbai in the next six months and hope to raise at least Rs 300 crore from this sale.
