V-Mart Promoter Madan Gopal Agarwal Set to Acquire Debentures in Promoter Company

V Mart Retail has announced a significant development in its promoter group shareholding structure. Madan Gopal Agarwal, a key promoter of the company, is set to acquire a substantial number of Compulsory Convertible Debentures (CCDs) in Conquest Business Service Pvt. Ltd., the promoter company of V-Mart.

Key Details of the Transaction

Acquirer: Madan Gopal Agarwal
Target: Conquest Business Service Pvt. Ltd. (Promoter Company of V-Mart)
Acquisition: 1,97,33,161 Compulsory Convertible Debentures
Percentage: 13.91% of CCDs in Conquest Business Service Pvt. Ltd.
Execution Date: On or after December 10, 2025

Background and Resolution of Technical Issues

This acquisition follows a gift deed executed in June 2025 between Madan Gopal Agarwal and Lalit Agarwal. The transfer of CCDs was initially delayed due to technical issues related to the ISIN (International Securities Identification Number) maintained by the Registrar and Transfer Agent (RTA). These issues have now been resolved, paving the way for the completion of the transaction.

Impact on V-Mart's Shareholding Structure

The inter-se transfer of CCDs is significant as it indirectly affects V-Mart's shareholding structure:

Conquest Business Service Pvt. Ltd. holds a 37.74% stake in V-Mart.
The transfer of CCDs within Conquest Business Service Pvt. Ltd. represents an indirect change in the control structure of V-Mart.

Regulatory Compliance

This transaction falls under the purview of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The inter-se transfer is being conducted among qualifying persons as specified in Regulation 10(1)(a)(i) of the Takeover Regulations.

V-Mart's Financial Position

To provide context on V-Mart's current financial standing, here's a snapshot of key balance sheet items as of March 2025:

Balance Sheet Item	Value (in ₹ crore)	YoY Change
Total Assets	2,436.20	-14.38%
Current Assets	1,225.80	+18.46%
Fixed Assets	1,038.50	-37.47%
Total Equity	810.20	+8.46%
Current Liabilities	1,168.10	+30.92%
Non-Current Liabilities	458.00	-62.03%

The company has shown mixed financial performance, with a decrease in total assets but an increase in current assets and equity. The significant reduction in non-current liabilities suggests a potential restructuring of long-term debt.

Conclusion

This corporate action represents a significant shift in the indirect shareholding pattern of V-Mart. While the direct impact on V-Mart's operations may be limited, it signifies ongoing changes within the promoter group structure. Investors and market watchers will be keen to observe any subsequent changes in the company's strategy or governance following this transaction.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.59%	-2.39%	-7.22%	-8.88%	-22.71%	+41.89%

V Mart Retail Limited, a prominent player in the Indian retail sector, has announced a significant change in its senior management structure. Mr. Ramesh Kumar Agarwal, who held the position of Vice President of Supply Chain Management and was designated as a Senior Management Personnel (SMP), has superannuated from the company.

Key Details of the Superannuation

Aspect	Details
Executive	Mr. Ramesh Kumar Agarwal
Position	Vice President, Supply Chain Management
Designation	Senior Management Personnel (SMP)
Effective Date	November 15, 2025
Nature of Departure	Superannuation

Regulatory Compliance

V-Mart Retail Limited has adhered to regulatory requirements by making this announcement in accordance with Regulation 30 of the SEBI Listing Regulations. The company filed an intimation with the stock exchanges, providing details of the change in senior management.

Impact on Company Structure

The superannuation of Mr. Agarwal represents a change in the company's senior management composition. As the Vice President of Supply Chain Management, his role was crucial in overseeing the company's supply chain operations, a vital aspect of the retail business.

Company's Disclosure

V-Mart Retail Limited has ensured transparency by making this information available on the company's official website ( www.vmart.co.in ). This move aligns with best practices in corporate governance and keeps shareholders and stakeholders informed about significant changes within the organization.

The company has not announced any immediate replacement for the position. As the retail sector continues to evolve, especially in supply chain management, the company's strategy for this key role will be of interest to investors and industry observers alike.

This development marks the conclusion of Mr. Agarwal's tenure with V-Mart Retail Limited.