The Loot India, plans to raise Rs 100-crore through an IPO
Leading retail chain, The Loot India, plans to raise Rs 100-crore through an IPO, likely to be launched in the next calendar year (approximate next 15-months).
The proceeds will be used for consolidating its retail business as well as for setting up a training campus (The campus would also have a small manufacturing unit), spread across 1.5 million sq ft area near the Maharashtra-Gujarat border.
The company also plans to expand its store network by opening 80 stores across 50 cities in 20 states of the country by March next. Currently, there are 120 stores pan-India.
“They will also invest Rs 100-crore more in the next 3-4-years for strengthening back-end operations, in-house training, warehouse upgrade and marketing.
The Loot, a multi-brand discount store offering customers a wide range of products in apparels, footwear and accessories with discounts ranging between 25 per cent to over 75 per cent throughout the year, has the highest number of brands in its stores.
The company had a net sales of Rs 68-crore in the last fiscal and targets Rs 125-crore this fiscal.
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