Stitched Textiles files DRHP for its IPO for raising up to Rs 200 crore

21 Jun 2022 , 10:05 AM

Barcelona- brand of Stitched Textiles Limited- India’s leading men’s wear fashion brand, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds upto Rs200 crore through an initial public offering (IPO).

According to the draft red herring prospectus (DRHP), the planned IPO would be entirely through a new issue of equity shares.

Further, Finshore Management Services Limited are the Book Running lead managers to the IPO.

As per the sources, Jaimin Gupta, promoter of the Company said that “Barcelona will achieve new heights in coming years and is thankful to all stake holders of the company who believed in our Vision”

The company plans to expand its retail business by opening upto 130 Exclusive Brand Outlets

The Company’s flagship brand ‘Barcelona’, is one of the famous brands known for men’s wear garments at PAN India level.Since the company’s incorporation, it has expanded offerings under the “Barcelona” brand to include a wide product range of Men’s Wear like Shirts, Trousers, T- Shirts, Denims, Suits, Blazers, Trunks, Vests, Boxers, Tracks and such other various products.

The brand strongly believes in providing their customers with high-end fashion products at a very affordable and economical pricing.