Subhiksha, a Tamil Nadu-based discount retail chain, has joined the race to buy Adani Retail, the non-core business of the Adani group in Gujarat, a senior company executive indicated here on Wednesday.

Without confirming or denying its interest in Adani Retail, but dropping enough hints that the company is in the race, Mr R. Subramanian, managing director of Subhiksha said, "We would be interested if the opportunity exists. Everything (regarding the deal) would come out in a week’s time."

Adani Retail is reportedly looking to sell its business, which includes eight hypermarkets and several smaller format stores spread across major Gujarat cities. On the size of Adani Retail’s business, Mr Subramanian, who was here to formally launch the Subhiksha chain of stores, said, "The Adanis have valued their retail business at Rs 200 crores, but our estimate is close to Rs 110 crores."

Despite bigger players like Reliance Retail and Bharti firming up plans for an entry into the booming retail industry, companies like Subhiksha have charted out significant expansion plans. Subhiksha has 53 stores running in Andhra Pradesh and plans to increase its presence here to 80 stores in four months with an investment of Rs 40 crores.

Putting the floods and the ruckus that followed behind it, the State Government is looking ahead for the nine-day Navratri festival.

With the two-day monsoon session coming to an end, the government machinery has gone into top gear to prepare for the Vibrant Gujarat Navratri Festival beginning Saturday. On Wednesday, Tourism Department officials were seen involved in frantic last-minute preparations at the helipad grounds here for the mega show. More than a thousand artistes, including some 300 from seven foreign countries would participate in the world’s longest dance festival.

Craft bazaars, food courts theme pavilions on Gujarat’s tourism potential would be set up along with main event, informed officials. Around 400 artistes from the State besides 300 from other states will be performing there. A similar number of folk artistes have arrived from Bhutan, Indonesia, Israel, Nepal and Sri Lanka, while troupes from Astrakhan and Bangladesh are expected by Thursday. A massive stage has been erected at the centre of the helipad and seating arrangements made for thousands, mostly VIPs.

Pavilions on tourism be it heritage, adventure, medical, rural and religion, will be set up. The Sardar Sarovar Project, rural and tribal tourism, cottage industries would also be showcased.

A separate craft bazaar with 150 shops selling folk items besides a 24-stall food court has been set up for visiting garba enthusiasts, informed Tourism Secretary R M Patel. A tight security ring has been thrown around the venue looking at the security threats, officials said.

source: Expressindia.com