Brandman Retail, specializing in premium international brand distribution, raises Rs 24.5 crore from anchor investors before public subscription. Set to open its Rs 86.08-crore IPO for public subscription in February, proceeds will fund the retail network expansion and working capital. The IPO will list on NSE's Emerge platform.
Brandman Retail Gears Up for IPO with Rs 24.5 Crore from Anchor Investors
In a strategic move ahead of its initial public offering (IPO), Brandman Retail successfully secured Rs 24.5 crore from anchor investors. The participation includes six major entities such as Sanshi Fund-I and Founders Collective Fund, with shares priced at Rs 176 each.
The Rs 86.08-crore IPO is scheduled for public subscription from February 4-6. Operating through a COCO-led strategy, Brandman Retail aims to utilize the funds raised for both developing new retail outlets and enhancing working capital.
The company is set to list on the NSE's Emerge platform on February 9, with revenue from the past nine months clocking Rs 95.31 crore. The expansion will bolster its premium footwear, apparel, and accessories offerings.
