iStreet Network to raise Rs 100 crore for expanding operations

BSE-listed IStreet Network, which operates in the Internet retail catalogue segment, today said that it would raise Rs 100 crore to expand its retail store network called iStreet Bazaar.
The company has drawn up plans to set up 1,100 stores during 2014-15 and take these to 2,800 stores by end of FY2015-16.
"We are looking at raising up to Rs 100 crore in a phased manner, which will be utilised to build fulfillment facility, upgrade software, strengthen backend technologies and introduce new opportunities to network partners," iStreet Network Managing Director Pradeep Malu said in a statement.