Fashion retailer V-Mart Retail to acquire Tiger Global-backed ecommerce startup LimeRoad in an all-cash deal of INR 31.12 crore on a slump basis.
V-Mart would acquire the fashion marketplace’s assets worth approximately INR 14.61 Cr and assume its current liabilities worth approximately INR 36.26 Cr as part of the agreement. V-Mart also intends to invest INR 150 Cr to help the startup scale further and achieve long-term profitability. The acquisition will assist V-Mart in acquiring digital-first millennials and expanding its omnichannel expertise, according to the fashion retailer.
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