SS Retail raises ₹146.4 cr from anchor investors before IPO
Business
SS Retail just locked in ₹146.4 crore from anchor investors right before its IPO opens on September 16.
It sold 34.52 lakh shares at ₹424 each, and is looking to raise a total of ₹500 crore through this IPO, which includes both new shares and some being sold by existing owners.
SS Retail to fund store expansion
Big names like Bengal Finance and Investment, Kotak Mahindra Life Insurance, and 360 ONE put in nearly ₹25 crore together. Most of these shares went to Indian mutual funds.
SS Retail plans to use the money for opening more stores, 120 each year for the next two years, and boosting its day-to-day operations.
If you're into retail or investing, this is one to watch!