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JaipurKurti to raise Rs. 18.96 crore through preferential allotment

Image Courtesy: Weekender leader

JaipurKurti, a brand under Nandani Creation Ltd., a leading manufacturer and retailer of women’s clothing, will raise Rs. 18.96 crore through a private placement of 14 lakh equity shares and 10 lakh warrants to 29 high net-worth investors through preferential allotment.

JaipurKurti, Amaiva-by JaipurKurti, and Desi Fusion are three of the brands owned by Nandani Creation, which was founded by Anuj Mundhra. The company offers products from economic to premium segments catering to the demand of the target audience as per the latest fashion trend.

It manufactures and sells contemporary Indian clothing for women, with a product portfolio that includes kurtis, suit sets, pants, palazzos, fusionwear, loungewear, etc.

“With the fresh funds, we will further strengthen our product portfolio and deepen our market presence through all channels. Currently, we sell our products through our own website, seven exclusive brand outlets in Rajasthan and Punjab, and through other major e-commerce platforms like Myntra, Ajio, Nykaa, Amazon, Tata Cliq, Flipkart, etc.,” said Anuj.

While JaipurKurti has enriched its product portfolio with Indo-westernwear, Anuj said the soul of the company resides in ethnicwear.

“India lives in its traditions and culture. Holi, diwali, rakhi, weddings and a host of festivals and rituals create demand for ethnicwear around the year. That has continued to support our growth and will remain at the core. However, to give variety to our customers, we are expanding our trendy ensembles,” said Anuj.

The proprietary firm Nandani Creation which began its journey in 2004 was launched as Nandani Creation Private Limited in 2012 with JaipurKurti as a brand in the apparel market.

In the fiscal year 2020–2021, Nandani Creation reported a revenue of Rs. 46.10 crore and by 2023, it hopes to reach Rs. 60 crore. Anuj stated, “By 2025, we intend to make our company worth Rs. 500-800 crore.”

The brand now has five stores – four in Jaipur and one in Sri Ganganagar. From online to offline, the company’s strategy is both ‘bricks and clicks’, for Anuj believes it will be the future of retail.

“We are in an expansion mode now. By 2025 we plan to open 100 stores across the country that would be either company-operated or franchises,” says Anuj.

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