V2 Retail allots 18.74 lakh shares in QIP, raises ₹400 crore

Value retail chain V2 Retail Ltd on Monday (November 3) announced the successful completion of its qualified institutional placement (QIP), raising ₹399.99 crore through the allotment of 18.74 lakh equity shares to eligible institutional investors at an issue price of ₹2,134 per share.

The issue price includes a premium of ₹2,124 per share and a discount of ₹111.75, or 4.98% of the floor price. Following the allotment, the paid-up equity share capital of V2 Retail increased from ₹34.59 crore (3.46 crore shares) to ₹36.46 crore (3.65 crore shares).

Key allotments exceeding 5% of the issue included Motilal Oswal Small Cap Fund and related funds with a combined 25% stake (4.69 lakh shares), Subhkam Ventures I Pvt Ltd with 2.81 lakh shares (14.97%), Malabar India Fund Limited with 1.88 lakh shares (10.02%), Edelweiss Trusteeship Co Ltd and affiliated funds with 1.40 lakh shares (7.47%), and Buoyant Opportunities Strategy-II with 98,016 shares (5.23%).

Also Read: V2 Retail eyes higher-than-guided 8-10% same-store sales growth on festive trends

The QIP was approved by the Fundraising Committee in a meeting held on November 3, 2025.

Second Quarter Results

V2 Retail's standalone revenue rose to ₹705 crore, marking an 86% year-on-year growth from ₹380 crore in the same quarter last year. The company attributed the performance to focused execution, innovation-led expansion, and deeper market penetration.

Same Store Sales Growth (SSSG) for the quarter stood at 23.4% YoY, while normalised SSSG, adjusted for the Durga Puja festival shift from Q3 to Q2, was approximately 10.3%. The company highlighted strong sell-through rates, limited markdowns, and disciplined inventory management as key drivers of sustained consumer demand.

Also Read: V2 Retail shares hit 5% lower circuit after CEO Manshu Tandon resigns

Store productivity remained strong, with monthly sales per square feet at ₹938, despite an aggressive expansion strategy. In Q2 FY26, V2 Retail added 43 new stores, bringing its total store count to 259 with a retail footprint of approximately 27.94 lakh sq. ft, with a focus on Tier 2 and Tier 3 markets.

Shares of V2 Retail Ltd ended at ₹2,500.00, up by ₹50.45, or 2.06%, on the BSE.