While the new financial year has arrived, the stock markets remain volatile due to the uncertainty surrounding out of the ongoing Russia-Ukraine war.
However, Indian companies are marching ahead with full positivity and are preparing for IPOs in coming days.
Fashion clothing ethnic wear brand BIBA which has been popular in India has filed its draft red hearing prospectus (DRHP) with SEBI for bringing in the IPO.
The company has plans to raise Rs. 1500-2000 crore from the IPO. BIBA wants to list its shares both on NSE and BSE.
In this upcoming IPO, nearly 2.77 crore equity shares of the company will be on offer for sale which comprises of promoters and existing investors.
The IPO funds will be utilized for repayment of existing loans and exit of existing investors.
BIBA was launched in the year 1986 and focuses on women’s ethnic wear, wedding collections, footwear, jewellery etc. They have presence across 120+ major cities in India through their 300+ stores. The BIBA stores are majorly located at high footfall shopping malls and popular high streets of metro/urban locations.
