Apparel maker Cantabil Retail India (CRIL) has opened its Rs 105 crore initial public offering (IPO) for subscription. The company has fixed a price band at Rs 127-135 per share.
Cantabil is in the business of designing, manufacturing, branding and retailing of apparels under the brand names of CANTABIL and La FANSO. Currently, it has a network of 411 exclusive retail outlets spread across India.
Investment Advisor, SP Tulsian advised buying Cantabil for short term gains and Manish Bhatt of Prabhudas Lilladher has recommended subscribing the issue as he expects CRIL to witness strong growth in the medium term. Swastika Investmart says, the company is eligible to be included in the portfolio with a long term view perspective.
Tulsian said, "The company is recording good growth due to addition of new stores. However, inventory management at the company level and sluggish profit growth for the retail sector, are two concerning points, in the long run. Issue seems to be fairly priced. Although retail is far from being the flavor of the season, those keen on taking an exposure in the sector can go for it for short term gains."
