Nagpur based Tristar Retail Private Limited is entering into primary market with an Initial Public Offering (IPO) of —– Equity Shares of Rs 10 each aggrigating Rs 25 crore. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. Tristar Retail is the largest retail operator (in terms of number of stores) of Reebok in India, largest franchisee (in terms of number of stores) of Titan Eye Plus and one of the largest master franchisees in terms of number of stores of Signature/Denizen in India. Tristar has 166 retail outlets across 50 cities and 9 states with a portfolio of brands including Reebok, Levi Strauss Signature/Denizen, John Players, Titan, Titan Eye Plus, Nokia and Levis.
The company plans to utilize the proposed IPO funds for working capital requirement (Rs 13 crore), expansion of exclusive brand outlets (EBOs) of brand Denizen (with an outlay of Rs 5.85 crore), and investment of Rs 1.13 crore in subsidiary Tristar Retail Concepts Pvt. Ltd. for expansion of exclusive brand outlets of brand Nokia.
The company reported a net profit after tax of Rs Rs 3.72 crore and total income of Rs 112.19 crore, for FY 11.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Sole Book running lead manager (BRLM) to the issue is Microsec Capital Ltd .
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