Published
Apr 2, 2019
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Nysaa in talks to raise Rs 350 crore, eyes revenue of Rs 1,000 crore by 2021

Published
Apr 2, 2019

Nysaa Retail, the parent of 1India Family Mart, is in talks with private equity funds to raise around Rs 350 crore ($50.5 million) to fuel its expansion across the country as it eyes revenue of Rs 1,000 crore by fiscal 2021.
 

Nysaa in talks to raise Rs 350 crore - 1-India Family Mart


Nysaa reported revenue of Rs 250 crore for the 2018 financial year and expects to double that to Rs 500 crore in the 2019 financial year.
 
The company raised $6.5 million (Rs 41.5 crore) in January 2018 from Carpediem Capital to strengthen its retail presence across India.

“We are looking to raise around $50 million and have appointed Avener Capital last week,” Ravinder Singh, co-founder of Nysaa Retail told the Economic Times.
 
“Nysaa will use funds to fuel its expansion, both organic and inorganic. The company plans to add around 100 stores by FY21 in the north and north east. The company is looking at clocking a turnover of Rs 1,000 crore in the next two years,” said Singh.
 
Founded in 2012, Nysaa Retail through its 1-India Family Mart stores sells a variety of casual wear and traditional wear along with FMCG products. It currently has 80 stores spread across the tier 2, 3 cities in India.

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