Koutons raises Rs 210 million as private equity

Mumbai, Apr 19 (UNI) Passport Indian Investments (Mauritius) Limited has picked up 6,00,000 equity shares in Koutons Retail India Limited for an investment of Rs 210 million. Passport has been alloted the equity shares at a fixed price of Rs 350 per equity share.

Passport, is a SEBI registered Foreign Institutional Investor (FII) based out of San Francisco, USA with over US$ 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.

''We believe that we are well positioned to capture considerable growth opportunities in Indian apparel manufacturing and retail sector.'', said D P S Kohli, Chairman of Koutons.

Koutons Retail India Limited is an Indian company which has 26 manufacturing and warehouse faccilities and a network of 674 retail outlets across India.

UNI