Indian Terrain to raise Rs.75 crore

Mumbai: Tamil Nadu-based fashion brand Indian Terrain will raise funds to the tune of Rs.75 crore through issuance of public tradable shares and private securities, it informed the National Stock Exchange Friday.

Besides, the company said it is convening an "extraordinary general meeting of the members of the company early January for considering and obtaining the authority or approval of the members for raising funds".

The company was listed in 2011, following a demerger from its parent company. With a turnover of over Rs.250 crore, the company retails across the country in over 700 multi-brand outlets, 130 doors of large format stores, over 100 exclusive brand outlets, and its products are available through online stores as well.

Shares for the company traded at Rs.524.25, down by 1.08 percent in afternoon trade at 2.10 p.m. Friday.