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IPO will remain in the market even in 2022, Biba Apparels will bring its own IPO!

Biba Apparels IPO: Biba Apparels, which makes apparel for women, is now preparing to bring its IPO in 2022. Biba Apparels can raise Rs 2,000 crore from the market through IPO.

Biba Apparels is one of the leading fashion brand offering women’s ethnic wear. Designer Meena Bindra founded Biba Apparel Pvt Ltd in 1988. BIBA has now entered the jewelery and footwear segment as well. Biba Apparel has stores in 120 cities of the country. Also, the ethnic wear of Biba Apparels is available in almost all the major and leading retail chains of the country like Shoppers Stop, Lifestyle, Pantaloons and Central.

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Private equity firms like Warburg Pincus and Faering Capital have invested in Biba Apparels. Biba Apparels has selected a few advisors for its proposed IPO.

Biba Apparels has shortlisted 4 bankers for its proposed IPO including JM Financial, HSBC Securities, DAM Capital, and Ambit Capital. The company wants to raise Rs 1,500 crore to Rs 2,000 crore through IPO.

Biba Apparels can submit the draft paper for IPO with SEBI in the first quarter of the 2022-23 financial year. The IPO may consist of an offer-for-sale (OFS) as well as a fresh issue, providing a partial exit for Warburg Pincus and Fairing Capital.

Also read: Paytm Share Update: Investors investing in Paytm’s IPO may lose Rs 64,000 crore, shares may fall up to Rs 900

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