A new consortium set to buy Vishal Mega Mart

A consortium of Kedaara Capital and Partners Group is set to buy retailer Vishal Mega Mart. While Kedaara will look after front end operations at the firm, Switzerland-based Partners will manage the back-end. Kedaara Capital is an India-registered alternative investment fund. Up to 51 per cent FDI is allowed in multi-brand retail in India. Consequently, Partners Group teamed up with Kedaara Capital to acquire the firm with the majority of investment coming from Partners.