Mumbai: Several mid-sized apparel makers have initiated talks with private equity firms to raise funds, encouraged by successful fund-raising by womenswear brand W.Esjay International Pvt. Ltd have hired bankers to raise funds in the range of Rs50-100 crore, two people familiar with the development said on condition of anonymity. Their previous attempts to raise funds were unsuccessful because of differences on valuations. Ltd, the owner of womenswear brand Soch, also plans to raise funds from investors, said the second of the two unnamed people cited earlier. The size of the Indian apparel market was $41 billion in 2014 and is expected to grow at 9% annually over the coming decade, according to consulting firm Technopak Advisors.

Source: Mint September 15, 2016 19:07 UTC