Alok Industries forms new retail arm

Mumbai: Alok Industries, a vertically integrated textile company, has spun off its retail operations into a new subsidiary company under the name of Alok India Retail Ltd.

Marking an investment of Rs 150 crore for expanding its H&A stores, the company would be raising money through private equity and internal accruals. Currently, it has 20 H&A stores and intends adding 100 more in the next two months.