First retail outlet to open in Pune, in May: AV Birla Group

The AV Birla Group has forayed into the retail segment. The retail venture has been christened Aditya Birla Retail and its first outlet will open in Pune in May. The retail venture will have two formats - hypermarket and supermarket. The Group is not tying up with any joint venture partner for its retail venture.

The retail venture investment will amount to Rs 8,000-9,000 crore and will not be made via any listed AV Birla Group Company. The company is looking for acquisitions to add value and has acquired leading South-based super market chain Trinethra in January, but is not keen on tying up with any JV partner as of now. Its first retail outlet will be unveiled in Pune this month. However, the group has clarified that the Pyramid acquisition talks were only speculative.