Libas launches IPO

Libas Designs has come up with an initial public offering (IPO) of 20,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 68 per equity share. The shares are listed on NSE Emerge Platform, priced 6.8 times higher to its face value of Rs 10.

Libas Designs is engaged in the process of fabrication of fabric into garments. It offers sherwanis , suits, jackets, shirts, pants, and Indowesterns for men and saris, suits, lehengas, gowns, and anarkalis for women. The brand is on major e-commerce sites and has its own portal. It has tie-ups with more than 80 Indian and international designers and has an inventory of more than 500 designer clothes. Currently, Libas has eight stores, either owned or franchised.

The company also offers an extensive range of jute bags, best suited for everyday use. With hundreds of different colors and styles, customers have a good number of options to choose from. Customers can also design their own bag by choosing their own dimensions, colors and features such as buttons, zippers, handles and of course overall styling. Other accessories are jewelry, belts, cufflinks.

Libas was incorporated in 2004. On the performance front, the company reported a jump of 21.32 per cent in its total revenue in financial year ’16 as compared to financial year ’15. Net profit increased by 158.61 per cent in March 2016 as compared to March 2015. Return on net worth increased to 25.77 per cent in financial year ’16 from 13.43 per cent in financial year ’15 and 14.69 per cent in financial year ’14.