India-West News Desk

NEW DELHI– Indian retailer Libas is preparing for an initial public offering by early next financial year, though the company said volatile market conditions could delay the listing.

Chief Executive Officer Sidhant Keshwani of Libas said the timing of the IPO will depend on investor sentiment and broader global conditions, including geopolitical tensions in the Middle East.

The timing of the IPO will depend on investor sentiment and broader global conditions.

The company is expanding across India while keeping private equity funding as an alternative capital route.

Libas currently operates about 50 stores in more than 15 cities. It plans to add at least 70 outlets annually over the next two years, which would take its total store count beyond 200.

The brand is also evaluating international growth opportunities in the United Arab Emirates and the United States, though it is taking a cautious approach amid ongoing regional instability.

For the year ended March 31, Libas expects revenue to exceed Rs 7 billion, up about 30% from the previous year. The company said annual growth has been in the 30% to 35% range.

The retailer raised about Rs 1.5 billion in 2024 and is considering another private equity round to support store expansion, supply chain investments and overseas plans ahead of the proposed IPO.