Apr 16 (BNP): Indian ethnic wear brand Libas is targeting a public listing by early next fiscal year as it continues to expand its retail presence across the country, according to a top company executive. However, the timing of the initial public offering (IPO) may shift by a few months depending on market conditions.
The company noted that recent volatility in equity markets, driven by geopolitical tensions, renewed global trade uncertainties, and foreign investor outflows, has impacted overall sentiment and valuation trends.
The Chief Executive Officer said the IPO timeline remains flexible and could be delayed if market instability and geopolitical tensions persist, particularly in the Middle East region.
Alongside its listing plans, Libas is also evaluating a potential private equity funding round to support its growth strategy. The company stated that it currently has sufficient financial runway but did not disclose further details.
Libas had previously raised ₹150 crore in 2024 at an undisclosed valuation.
The brand operates 50 stores across 15 cities in India and is pursuing an aggressive expansion strategy, with plans to open at least 70 new outlets annually over the next two years. This would take its total store count beyond 200 locations.
India’s retail sector, currently valued at over $1 trillion, is expected to nearly double by 2030, driven by rising consumption and a growing middle-class population, creating strong growth opportunities for organised retail brands.
