The textile company is eyeing to raise up to Rs 200 crore via its primary offering entirely by issuing equity shares, with a face value of Re 1 each.
Ahmedabad-based Stitched Textile sells fashion products in an affordable pricing range under its flagship brand ‘Barcelona.’
The company is a renowned name in men’s fashion wear and has a wide product range of shirts, trousers, T-shirts, denims, suits, blazers, trunks, vests, boxers, track pants and others.
According to the company management, the net proceeds will be utilized towards expanding its retail business by opening up to 130 exclusive brand outlets.
The company has allocated 75 per cent of equity shares to qualified institutional buyers, whereas 15 per cent of shares are reserved for HNI bidders. The remaining 10 per cent equity quota is fixed for the retail bidders.
The company has appointed Finshore Management Services as the book-running lead manager to the issue, whereas Bigshare Services has been appointed as the registrar to the issue.
