Triveni Retail Ventures a subsidiary of Triveni Engineering has put Triveni Khushali Bazaar for sale. The group is looking forward to divest the entire stake or relinquish management control to focus on its core business.
Triveni Khushali Bazaar started operations in 2005 and has 42 stores mostly in Uttar Pradesh and Uttarkhand. The company deals mainly in three verticals Agr-products and Services, Consumer Products and Durables and Financial Services.
I-bankers have sent the feelers to Future Group, Aditya Birla Group, Reliance Retail and also to Reliance ADAG group. Reliance ADAG already has a tie-up for retail financial services business with Triveni.
The company had already indicated in analyst presentation that it is looking forward to partnerships in the near term. They were also consolidating their supply chain right from sourcing farm produce to distribution.