India’s Barcelona brand to launch its IPO

Ahmedabad-based Stitched Textiles (menswear brand Barcelona) is going to launch its Initial Public Offer (IPO).

The company has filed a resolution for the IPO with Registrar Of Companies, though currently there has been no official confirmation regarding the exact date for the commencement of subscription for the IPO. However, it is expected to be announced soon.

“Though the exact size of the IPO has not been decided, we believe to arrange Rs. 300 crore and all the fund will be mainly used for retail expansion. We will also focus on our B2B app which targets to connect 5 lakh garment retailers with the wholesalers,” Jaimin Gupta, MD the company, told Apparel Resources.

He further added that IPO represents a major step forward in Barcelona’s mission to democratise the garment retail industry. The company is proceeding with IPO formalities with an eye on filing DRHP in June 2022.

Jaimin also said “Through this move, we’re thrilled to offer investors the opportunity to invest in our company and we are truly excited to offer the IPO to all the interested stakeholders in the market.”

Started in 2015, with 10 stores, the brand has been successful in expanding to two to three cities through franchise routes.Today, it has around 90 stores. The company is also present in more than 6,000 multi-brand outlets across India.

In 2021, the company generated revenue of Rs. 12.32 crore compared to Rs. 6.80 crore in 2020.