The Textile Company’s Mood Changed On Its Rs 200 crore IPO, Which Was Made Before SEBI’s Approval

Stitched Textiles, which is owned by leading men’s apparel brand ‘Barcelona,’ has withdrawn its Rs 200 crore initial public offering (IPO). The IPO was supposed to offer entirely new shares.

Even before SEBI’s approval, the textile company cancelled its initial public offering (IPO). Stitched Textiles is the name of this company. Indeed, Stitched Textiles, which is owned by the leading men’s apparel brand ‘Barcelona,’ has withdrawn its Rs 200 crore initial public offering (IPO). The IPO was supposed to offer entirely new shares. On June 17, the company filed preliminary documents for the proposed IPO with the Securities and Exchange Board of India (SEBI). According to the market regulator, the proposed IPO documents were withdrawn on August 16. The reasons for the withdrawal, however, have not been disclosed.

Finshore Management Services was appointed as the issue’s book-running lead manager, and Bigshare Services was appointed as the issue’s registrar.

In over 50 different Cities

This company specializes in men’s dressage. At the same time, suiting and shirting are concerned with clothing. It currently operates 85 franchise stores in more than 50 cities across India. It launches its products under the ‘Barcelona’ brand.

Newz Orbit

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