@StarGarage Promoters have very well experience in apparel fashion business.
Already have business reach in 9 states.
Jhunjhunwala family still holding 3.5% of company post IPO,
Haldiram and kiral clothing also holding some equity and few other big name as per the interview with Anil Sanghvi.
**Objective of the issue**
The company intends to use the net proceeds from this issue to prepay or repay a portion or all of its outstanding borrowings and for general corporate purposes.
80% offer for sale and P/E 132 is bit negative , but company reducing debt, which will improve score.