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Cantabil Retail gets IPO nod

Cantabil Retail gets IPO nod
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First Published: Tue, May 11 2010. 04 47 PM IST
Updated: Tue, May 11 2010. 04 47 PM IST
Mumbai: Apparel maker Cantabil Retail India Ltd said on Tuesday it has received approval from the market regulator for an initial public offering to raise up to Rs1.05 billion.
Cantabil Retail is in the business of designing, manufacturing and retailing of readymade garments and accessories, with 381 retail outlets spread across India.
The proceeds from the share sale will go into setting up a new manufacturing facility, expansion of retail and repayment of part of debt, it said in a statement.
SPA Merchant Bankers is the book running lead manager to the issue, it added.
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First Published: Tue, May 11 2010. 04 47 PM IST