Discount retailer of branded apparel The Loot mulls hitting the capital markets with an initial public offer to raise Rs 100 crore in fiscal 2010-11, after having shelved the plan last year.
"As we plan to go public, it will not be less than Rs 100 crore. It (the IPO) is likely to happen this fiscal as the market is looking positive. For the first three months we would observe the market and other players closely and then accordingly take a decision," The Loot Managing Director Jay Gupta told PTI.
The IPO proceeds will be utilised for consolidating our retail business, upgrading warehouse and processing units and our office campus. We will consolidate everything under one roof, he said.
"We were keen on going public last year, but market conditions were not in our favour, so the plans were shelved. Currently, the indices are on higher levels, but we do not want to go unprepared and so we will closely observe the market for a few months," Gupta said.
The Loot is a multi-brand chain, which offers a discount on 25-60 per cent on national and international brands throughout the year.
