Citykart Retail raises ₹100 crore from IDFC Alternatives, India SME Investments
The value apparel retail chain plans to add 100 new stores and grow its revenue fourfold over the next few years
Citykart has an asset-light model with modern ambience stores in large retail malls across various small towns and cities in Uttar Pradesh and Bihar
MUMBAI : Citykart Retail Pvt. Ltd , a value apparel retail chain, on Thursday said it has raised ₹100 crore in equity from IDFC Alternatives and India SME Investments for a significant minority stake. The Delhi-based company said it plans to add 100 new stores and grow its revenue four-fold over the next few years. This is the first external round of funding for Citykart.