Numero Uno Clothing Files IPO

Apparel and lifestyle accessories firm Numero Uno Clothing Ltd has approached capital markets regulator Sebi to float an initial public offer (IPO).

The proposed public issue comprises fresh issue worth Rs 65 crore and an offer for sale up to 84 lakh from its promoter and AA India Development Capital Fund, the company said in its Draft Red Herring Prospectus (DRHP) filed with Sebi.

The proceed of the issue would be utilised for opening 84 new stores, expansion of the existing capacity at Selaqui, Dehradun, brand building and general corporate purposes.

Anand Rathi Advisors and Motilal Oswal Investment Advisors are the merchant bankers to manage the offer.

The promoter the company, Narinder Singh Dhingra, has proposed to offer up to 16 lakh equity shares for sale, while AA India Development Capital Fund plans to offer 68 lakh shares, DRHP added.

Numero Uno is one of the leading jeans wear brands built over 25 years with a comprehensive casualwear product range.

This year, 15 companies including Biocon's custom research arm Syngene International, S H Kelkar and Company Ltd, Catholic Syrian Bank, Dilip Buildcon and Prabhat Dairy have filed their initial papers to launch IPOs.