PremjiInvest, KKR in race to acquire Vishal Mega Mart

KKR and Wipro founder Azim Premji’s family office PremjiInvest have joined the race to buy fashion hypermarket chain Vishal Mega Mart. KKR and PremjiInvest submitted separate bids for the stake, the two people cited above said on condition of anonymity. US-based Carlyle Group, a consortium of Kedaara Capital and Partners Group, and online retailer Flipkart are among contenders for Vishal Mega Mart. If a deal materializes, it would be the first exit for a global private equity fund from an asset that has turned around after restructuring.