Ajmal Bismi seeks Initial Public Offering, MD, VA Ajmal He did not confirm reports of Reliance Retail acquiring Bismi, Kerala’s leading electronics and grocery retail chain. Bismi has 30 large stores in Kerala with a combination of electronic and hypermarket formats. Bismi is a retail chain owned by Businessman V.A. Ajmal. The company, which currently has a revenue of around Rs 800 crore, is working towards an IPO target of Rs 600 crore. Reliance acquired Sri Kannan departmental store in Tamil Nadu, Kalaniketan, a leading saree and ethnic wear retailer in South India, and Jayasuriyas Retail, a local grocery chain.