Trent plans to raise Rs 300 crores

To support its expansion plans, Trent has decided to raise funds up to Rs 300 crores

through securities. This may include equity/debt or equity related instruments. It has already taken shareholders’ approval on the plan through a postal poll. The decision to raise funds comes in the wake of Trent (Tata Retail) aiming to become a leading organized retailer by exploring various growth opportunities. Trent notified that it has not identified any instruments to raise funds but if it is an equity linked issue, it would not exceed 20 per cent of the paid-up equity share capital of the company.

Established in 1998, Trent apart from Landmark and Westside stores operates the Star Bazaar, Fashion Yatra, Sisley and Zara stores in India. Westside chain offers clothes, footwear and accessories for men, women and children, along with furnishings, artefacts and a range of home accessories. Star Bazaar is a hypermarket chain offering a wide variety of products, including staple foods, beverages, health and beauty products, vegetables, fruits, dairy and non-vegetarian products. Landmark sells books and music and also stocks movies, toys, gift items and stationery. Fashion Yatra stocks quality fashion at low prices for value conscious customers in towns across India.

Trent has a total of 90 stores across India. In 2009-10, the company had reported revenues of Rs 587.48 crores and a net profit of Rs 40.22 crores.