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Trinethra buys Fabmall
HYDERABAD: The Andhra Pradesh-based Trinethra chain of supermarkets has acquired the Bangalore-based retail chain Fabmall India. But ultimately the India Value Fund (IVF), ended up with a controlling interest in the new entity. While the promoters and G. W. Capital, which manages IVF, were reluctant to disclose the details, what came out clearly was that IVF had taken a controlling stake by infusing Rs. 27 crores into the new equity structure of Rs. 45 crores. ICICI Securities, which invested Rs. 8 crores in a fledgling Trinethra, has been bought out for Rs. 17.50 crores. Trinethra's Managing Director and founder Anjaneyulu will no longer be a major stakeholder, but will continue in his position.
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