Tesco to invest $100 million in multi-brand retail stores.

More than a year after India opened up multi-brand retail trade to foreign direct investment, British retailer Tesco Plc became the first global retailer to seek the Government's nod to enter the segment.

Tesco plans to pick up a 50 per cent stake in Trent Hypermarket Ltd., a retail arm of the Tata group, and enter the multi-brand retailing arena.

The British retailer plans to invest $100 million (around Rs. 620 crore) to set up retail stores in the country.

The stores will operate under the names Star Bazaar, Star Daily or Star Market, and the first few will come up in Maharashtra and Karnataka.

HBL