Passport India Investments (Mauritius) has picked up 6,00,000 equity shares in Koutons Retail India for an investment amount of Rs 210 million. Passport has been allotted the equity shares at a fixed price of Rs 350 per equity share.
With this infusion Koutons Retail India has raised an aggregate amount of Rs 1,216 million as private equity since June, 2006. The earlier investors were UTI Venture Funds Management Company and Argonaut Ventures.
Passport is a SEBI registered Foreign Institutional Investor (FII) based out of San Francisco, USA with over USD 1 billion of assets under management.
The company has filed its draft red herring prospectus with SEBI and intends to enter the capital market with an IPO.
As on February 28, 2007, the company had 26 manufacturing and warehouse facilities in and around Gurgaon, and a network of 674 retail outlets across India.
Koutons Retail India is an Indian company branding and marketing its products as “Koutons” and “Charlie Outlaw”. As of February 28, 2007, the “Koutons” brand was sold on a total floor area of approximately 396,161 sq. ft. and the “Charlie Outlaw” brand was sold on a total floor area of approximately 110,134 sq. ft.
The BRLM and the Co-BRLM are JM Morgan Stanley and Karvy, respectively.
Source : Money Control