V-Mart Retail Limited (BSE:534976) entered into business transfer agreement to acquire LimeRoad Business from A.M. Marketplaces Private Limited and others for approximately INR 310 million on October 17, 2022. The LimeRoad will continue to operate as an independent business unit. The acquisition is proposed to be funded from internal accruals. Suchi Mukherjee, the founder of LimeRoad will join V-Marts leadership team as Chief Executive officer of LimeRoad and the Omni-channel business whereas Ankush Mehra co-founder of LimeRoad continues as Chief Operations officer. The transaction is subject to fulfilment and completion of due diligence and closing conditions. V-Mart Retail Limited board approved the deal. The transaction is expected to complete in 60 days. Anil Kasturi and Anisha Shridhar of AZB & Partners acted as legal advisor to LimeRoad Business and M.A. Willmind Holdings Limited.

V-Mart Retail Limited (BSE:534976) completed the acquisition of LimeRoad Business from A.M. Marketplaces Private Limited and others on November 10, 2022.