RPG Group to invest Rs 2,500 cr on retail spread

RPG Group said on Thursday it will invest Rs 2,500 crore (Rs 25 billion) in retail expansion across the country during the next four years.

"The company plans to invest around Rs 1,000 crore (Rs 10 billion) in the first phase of expansion of its retail venture, Spenser's. The first phase will end in 2009.

For the second phase, we have lined up an additional investment of Rs 1,500 crore (Rs 15 billion) for further expansion till 2011,"

RPG Enterprises Vice Chairman Sanjiv Goenka told reporters.

He said the company would raise fund for the planned expansion through a mix of resources, which includes private placements and internal accruals.

RPG did not rule out the possibility of a public issue and was planning a fresh listing of its retail venture.