Koutons raises Rs 21 cr through pre-IPO placement
Apparel manufacturer Koutons Retail India Ltd on Thursday said Passport India Investments (Mauritius) Ltd, an overseas fund, has picked shares worth Rs 21 crore in the company in a pre-IPO placement round.
By PTI |
MUMBAI: Apparel manufacturer Koutons Retail India Ltd on Thursday said Passport India Investments (Mauritius) Ltd, an overseas fund, has picked shares worth Rs 21 crore in the company in a pre-IPO placement round.
Koutons has alloted six lakh shares at a price of Rs 350 per share to Passport Investments Ltd aggregating Rs 21 crore, the company said in a statement.
The company has since June 2006 raised Rs 121.6 crore through pre-IPO placement to investors including UTI Venture Funds Management Company and Argonaut Ventures, it said.
Koutons has filed its Draft Red Herring Prospectus with market regulator SEBI to enter the capital market.
"We are well positioned to capture considerable growth opportunities in Indian apparel manufacturing and retail sector with our low-cost sourcing capabilities, unique brand positioning and merchandising expertise," Koutons Chairman D P S Kohli said in the statement.
The company operates out of 26 manufacturing and warehouse facilities in and around Gurgaon and has a network of 674 retail outlets across the country.
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