The textile company has withdrawn its initial public offering (IPO) even before SEBI's nod. The name of this company is Stitched Textiles. Stitched Textiles, which is owned by the leading menswear brand 'Barcelona', has withdrawn its Rs 200 crore IPO. The IPO was to offer completely new shares.
The company submitted preliminary documents for the proposed IPO with the Securities and Exchange Board of India (SEBI) on June 17. The market regulator said that the documents proposed for the IPO were withdrawn on August 16. However, the reasons for the withdrawal have not been disclosed.
The company had appointed Finshore Management Services as the book-running lead manager for the issue, while Bigshare Services was appointed as the registrar of the issue.
In more than 50 cities: This company is primarily engaged in men's dressage. At the same time, suiting and shirting deals in clothes. It operates around 85 stores in the franchise model in more than 50 cities of India to date. It introduces its products under the brand 'Barcelona'.
