Stitched Textiles Private Limited plans IPO for Barcelona
Stitched Textiles Private Limited’s menswear brand Barcelona aims to raise up to Rs 200 crore through an initial public offering and has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India.
According to the brand’s Draft Red Herring Prospectus, the IPO will be carried out entirely through a new issue of equity shares, Business Standard reported. The brand also has ambitious brick-and-mortar expansion plans and aims to open up to 130 new exclusive brand outlets across India.
Stitched Textiles Private Limited has named Finshore Management Services Limited as the Book Running lead managers for the IPO. The brand hopes to take advantage of the growing consumer demand for branded menswear in both metro and non-metro locations.
“Barcelona will achieve new heights in coming years and is thankful to all stake holders of the company who believed in our vision,” said the business’ promoter Jaimin Gupta, Business Standard reported.
Barcelona retails a wide range of men’s western style casual wear as well as work wear and lounge wear. The brand recently named Bollywood celebrity Sonu Sood as its new brand ambassador and Sood will star in numerous multi-media campaigns for the brand in the coming months.
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