The Print Bazaar, an Aliagroup company, today announced plans to raise 100+ crores investment through private equity within next few months. It is an organized multi-service store for all imaging and printing needs and currently has five stores in Delhi NCR.
Speaking about the plans to raise investment and expansion Sethunath P, CEO, The Print Bazaar said, “We are primarily looking at raising capital in two phases for driving the expansion of The Print Bazaar and upgrading the infrastructure. The first phase will include raising a capital of Rs. 25 - 30 crores by March 2012, which will be utilized to develop a hub in Delhi to cater the B2B market, marquee clients and specialty items. The second phase will include raising Rs. 75 - 80 crores to expand across north India, with plans in place to open 50 stores and pilot stores in Mumbai and Bangalore.” He further added, “We plan to grow to 90 stores with a pan-India presence spread across all 5 metros and 10 tier two cities generating approximately 140 crore revenue in the next 24 months.”
The investments that will be raised will not just be used to expand but will also be utilized in creating a presence in e-commerce and backend infrastructure. Ashok Jain, Chief Finance Officer, The Print Bazaar, said, “We want to have our staff well trained and make sure there is a good system for their development.” So a part of the investment will go into training and development of employees.
The Print Bazaar also plans to have strategic tie-ups with logistics companies and large retailers as that would improve accessibility and create a presence in the B2C segment.