V2 Retail launches ₹300 crore QIP at ₹2,134 per share

Value retail chain V2 Retail Ltd has launched its qualified institutional placement (QIP) issue, with a base size of ₹300 crore, sources privy to the developments told CNBC-TV18. The issue size can be scaled up to ₹400 crore depending on investor response, sources in the know told CNBC-TV18.

The indicative price for the QIP has been set at ₹2,134 per share, representing an 8.2% discount to the company’s current market price (CMP), sources close to the development said.

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.

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

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.

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 ₹2,332.95, up by ₹111.05, or 5.00%, on the BSE.

Also Read: V2 Retail shares hit 5% lower circuit after CEO Manshu Tandon resignsRead about our editorial guidelines and ethics policy