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Subhiksha plans $100-125 Mn fund raising through IPO
By siliconindia
Chennai: Discount retail chain Subhiksha Trading Services intends to bring in Rs 400-500 crore ($100-125 million) through an Initial Public Offering (IPO) in 6-8 months to fund its expansion program.
The company is planning to utilize this fund to invest in new stores and in infrastructures like IT. According to Subhiksha MD R Subramaniam said the IPO can be rolled out at any time, either end of this year or early next year.
The retail chain plans to penetrate into the east India in the coming months. The company has already opened half a dozen mobile stores in Kolkata. By Pujas, the company projects to open 75 Subhiksha outlets in the city.
