Libas IPO: Plans to list in 12-18 months but flags risk of delay amid Middle East tension

Indian fast-fashion brand Libas is aiming to go public by the next financial year, a spokesperson from the company told FinancialExpress.com. They added that the company aims to go public within the next 12 to 18 months.

IPO plans may face delay

However, its IPO may get delayed due to the recent market volatility caused by tension across the Middle East, the spokesperson added.

“If markets don’t allow and if (Middle East) tensions don’t reduce, then it probably will be delayed by a few months or so,” CEO Sidhant Keshwani said in an interview with Reuters.

Libas CEO Sidhant Keshwani told Reuters that the brand is also considering a private equity round and has “a decent amount of runway”. In 2024, Libas had raised Rs 1.5 billion in additional capital to help finance its growth expansion and support internal operations.

Expansion and cost pressures

Currently, the brand operates 47 stores in more than 15 cities in the country. In FY26, Libas launched 28 new stores, and the ethnic wear brand aims to operate 50+ stores by FY27.

“Its Exclusive Brand Outlets (EBOs) already contributed more than Rs 100 crore in net sales, while the brand’s owned channels continued to scale rapidly, reinforcing strong momentum across its direct-to-consumer business,” the company said in a press release.

The company aims to scale up its operations internationally by opening stores in the UAE and USA in the next one to two years. The report added that at present Libas is on a wait-and-watch approach for its international presence amid the West Asia crisis.

So far, Libas has borne the brunt of high raw material and freight costs rather than passing them on to customers. However, the company’s CEO said prices may rise gradually if the tensions continue to persist, the report added.

Libas competes in the Indian market with other ethnic wear brands like Biba and Aurelia.