Indian Terrain to raise Rs 75 crores funding

Indian Terrain Fashions, engaged in manufacturing and retailing of men's apparel brands, has proposed to raise Rs 75 crores through issuance of securities or qualified institutions placements. The company would organize a general meeting of the members on January 12, 2015, to obtain approval for raising funds.

The Chennai-based company said in a BSE filing, “The Board of Directors of the company has considered and approved raising of funds for an amount not exceeding Rs 75 crores through issuance of securities or through a qualified institutions placement.”

Indian Terrain Fashions offers a complete range of casual wear and sportswear. Having opened its first store in September 2000, the company was listed in 2011, following a demerger from its parent company. The range of men's apparel includes shirts, trousers, T-shirts, shorts, mufflers, knitwear, jackets, denim, boxers, and socks.