The Loot, a discount apparel and accessories store chain, is close to clinching a private equity deal worth Rs 25 crore. The company plans to invest around Rs 100 crore in the next three years and add another 100 stores in the next one year.
The company, which was planning to go public this year, has postponed its plans for the moment owing to a volatile market. The company plans to meet its financial needs through internal accruals and debt.
“We are in talks with some private equity investors and plan to get around Rs 25 crore in the first round of funding in the next two months,” Jay Gupta, managing director, The Loot Store, told Business Standard.
The Loot already has 91 operational stores so far and is expected to have over 100 by March.