Sneakrz operator Brandman Retail debuts on NSE; ends 5% above IPO
Brandman Retail, a distributor and retailer for the premium athleisure and lifestyle brands, has been listed on NSE at a valuation of Rs 324.85 crore.
The company, which has an IPO price of Rs 176, settled at Rs 211.80 on NSE on Friday, up 4.98 per cent.
Brandman Retail, which has raised Rs 86 crore through its public issue, will invest the proceeds in store expansion, working capital support, and general corporate purposes, according to a company statement.
Brandman Retail currently operates 21 stores across India, which is a mix of Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs).
"As part of its next growth phase, the company plans to open 15 new stores funded through IPO proceeds, forming the first leg of a broader expansion strategy aimed at building a 50+ store national network," it said.
Founded by Arun Malhotra, Brandman Retail has positioned itself as a platform for international sports and lifestyle brands seeking structured entry and expansion in the Indian