Retailers rushing to raise PE funds

In the wake of Wal-Mart entering the country's retail sector and Tesco on the verge of coming to India, domestic retail chains are rushing to raise funds to cover expansion plans as global giants are all heading towards the Indian market. LifeKen, one of the leading domestic pharmacy retailers based in Bangalore, Mobile NXT, a Delhi based mobile retailer, 24/7 a pharma chain from Delhi and Digital Shoppy a consumer durable chain from Hyderabad are all focusing on raising funds for expansion.