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Will The Joyride Ticket Make Vishal Retail Smile

Posted on November 24, 2009

Promoters of Vishal Retail are merging one of their privately-owned companies with the listed entity even as the corporate debt restructuring (CDR) plan, which has been proposed to the lenders of the debt-laden retail firm, is yet to be get a formal nod.Vishal Water World, an amusement and water park project based in Kolkata, is being merged with Vishal Retail that would, in effect, push up promoter holding in the company besides bringing in additional assets to the financially beleaguered company.Vishal Water World is being seen as a real estate play whose land bank (valued at around Rs 60 cr...

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