Biba Apparels files IPO papers to raise upto ₹ 1,500 crore
A spate of domestic fashion labels backed by private equity firms has made a beeline for Dalal Street. Sequoia Capital-backed women’s bottom-wear brand Go Colours raised ₹ 1,014 crore via its IPO and made a stellar debut on the bourses in November, listing at a 90% premium to its issue price.
Biba Apparels, which is backed by Warburg Pincus and Faering Capital, has filed its draft red herring prospectus with market regulator SEBI and joined the Indian fashion label listing party, multiple industry sources.
“Biba has filed its draft papers and is looking to raise around ₹ 1,500 crore.”
About Biba Apparels
Biba, a synonym for pretty women in Punjabi, is a home-grown fashion brand, started by Mrs. Meena Bindra in 1988. Since then, it has become synonymous with ethnic wear in India. BIBA’s journey so far has been nothing but momentous and incredible, and the story behind the brand is as awe-inspiring as the woman who created it.
Biba, a tight knit group of people working together with a passion for design and fashion. Our team is our greatest strength and while each of us have a set designated role, we all strive towards a common goal. To keep making awe-inspiring designs and make fashion an agent of change and positivity.
We are constantly striving to re-look at contemporary designs that shape the modern world while being rooted in our culture and tradition that inspires our Indian wear.
Biba’s diverse product range is a sign of the evolving times to reflect the needs and aspirations of the Indian woman from every part of the country. From the millennial multi-tasking woman to the home-maker, to the young college-going girl, our products are empowering and fashionable all at once. With a focus on comfort, silhouette, fit, form and fabric, our design language is all about elegance.
Source: Money Control
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