NDTV Ethnic Retail Ltd, a subsidiary of media group NDTV that owns and operates ethnic wear-focused e-commerce venture Indianroots, is looking to raise external funding after its proposed Rs 10 crore fundraise from Rathi Strategic Ventures announced last year did not materialise.
NDTV Ethnic Retail Ltd, a subsidiary of media group NDTV that owns and operates ethnic wear-focused e-commerce venture Indianroots, is looking to raise external funding after its proposed Rs 10 crore fundraise from Rathi Strategic Ventures announced last year did not materialise.
Rathi Strategic Ventures is a Rathi Group company that invests in education and retail sector. It offers capital as well as mentoring to early stage ventures.
“Talks are on for a private placement at very attractive valuations,” NDTV said.
Launched in July last year, Indianroots is a curated marketplace that houses premium ethnic wear brands and designers like Sabyasachi, Raw Mangoes, Anita Dongre, Neeta Lulla, Indian Artizans and Karigari. Though the site also offers a few affordable labels like Chhabra Bros and Kurtawala, its primary value proposition is selling premium brands to Indians outside the country.
The firm also said its board has mandated the management to explore means of unlocking sum of parts shareholder value through various methods, including restructuring or private placement in NDTV Convergence Limited and/or other subsidiaries.
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