RSB Retail India has filed preliminary papers with markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) of up to 2.98 crore equity shares by promoters.
The company plans to utilise the net proceeds to the tune of Rs 275 crore for payment of debt, Rs 118 crore for setting up of new stores under the R S Brothers and South India Shopping Mall formats; and rest for general corporate purposes. Motilal Oswal Investment Advisors, HDFC Bank and IIFL Capital Services have been appointed by RSB Retail India to manage its public issue.
Incorporated in 2008, RSB Retail is a leading multi-format apparel retailer catering to premium, mid-premium, and value customer segments offering ethnic wear, everyday casual wear and formal wear.
