Founded in 2001, Vishal Mart is one of the oldest retail chains in India. After the 2008 financial crisis, and due to multiple factors, the company’s profits started dwindling. US private equity giant TPG Capital and Chennai-based Shriram group acquired the debt-ridden company, pulled it out of a tailspin and made it a profitable entity. In 2018, a private equity consortium led by Swiss PE investor, Partners group, and Kedaara Capital took over Vishal Mart for ₹5,000 crore. Will the company be able to maintain its dream run of the last eight years?
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