Mumbai-based The Loot (India) Pvt. Ltd is looking to dilute about 25 per cent stake to raise Rs 100 crore for expansion. The company has set a target of 100 stores across the country by 2008-09.
Managing Director Jay Gupta said, “We plan to dilute not more than 25 per cent to private equity firms or venture capitalists.”
The equity dilution will be accomplished before the end of 2008 as the company also plans to come out with an initial public offering (IPO). “We plan to come out with an IPO before March 2009 to raise not less than Rs 100 crore,” informed Gupta.
The company garnered a topline of Rs 25 crore for financial year 2005-06.