Monday, November 25

Tag: koovs

Online Startups That Are Listed Under Stock Exchange
Market

Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...
Kishore Biyani’s Future Group Acquires Stakes In Koovs.com
ACQUISITION

Kishore Biyani’s Future Group Acquires Stakes In Koovs.com

Kishore Biyani-led Future Group’s subsidiary ‘Future Lifestyle Fashions’ is reportedly acquiring a considerable stake in the popular fashion retailer ‘Koovs’. The business magnate will take over 29.9 percent stake in the fashion firm for about Rs 140 crore. This particular move will make Future Group the largest stakeholder in London-listed e-commerce company Koovs. According to the reports, the fashion company will first issue 57.87 million new shares that account for a 24.8% stake to Future Lifestyle Fashions at 10 pence apiece in cash, raising around $7.6 million.     In this regard, the company stated, "The board of directors of the company in its meeting held today has approved the proposal to invest an amount up to GBP 15.3 millions in one or more tranches by ...
Koovs Seeks £23 Million for Indian Market Expansion
FUNDING

Koovs Seeks £23 Million for Indian Market Expansion

London-listed fashion e-commerce company, Koovs announced its plan to raise 22-23 million pounds this year in a bid to accelerate its growth plans and expand its presence in the Indian e-commerce market. This decision comes amidst dropping sales reports in the UK market. It also announced its willingness to raise 50 million pounds funding, as their cash reserves are not significant. “We will need up to GBP 50 million to fund our acceleration plan. This will be done in tranches. This year, we are looking at about GBP 22-23 million, which we expect to, close in the new few months,” said Koovs Chairman, Waheed Alli. Sales are a big matter of concern presently and the company could not hide its incertitude about the future. The company recently revealed H1 gross sales were flat at 7.9 mi...
Koovs Gets 92 Crores Investment from TOI Group, Others
FUNDING

Koovs Gets 92 Crores Investment from TOI Group, Others

UK-based online fashion player Koovs plc has raised 10.9 million pounds (about Rs 92 crore) from existing and new shareholders, including 3.9 million pounds from the Times of India Group. "Koovs plc is pleased to confirm a strategic investment in the company of 3.9 million pounds from the Times of India Group and a further 7 million pounds investment by new and existing shareholders, through the issue of 21,700,000 new ordinary shares at 50 pence per ordinary share," the online firm said in a statement today. The capital raise is part of the final tranche of the company's three-year investment programme to raise approximately 35 million pounds that was announced in September 2015. This brings the total amount raised under this programme to 31 million pounds to date. "The company a...
UK Based Koovs Raises 30 Cr Funding From HT Media
FUNDING

UK Based Koovs Raises 30 Cr Funding From HT Media

UK-based online fashion player Koovs plc today announced raising 3.3 million pounds (over Rs 30 crore) from HT Media Ltd and Dragon Asia Holdings Pte Ltd to fund its marketing and brand building activities in India. Koovs said it has issued 1.2 crore new ordinary shares at a price of 25 pence per ordinary share to HT Media translating to 8.2 per cent stake in the enlarged issued share capital of the fashion portal. Similarly, the company issued 12 lakh new ordinary shares at a price of 25 pence per share to Dragon Asia Holdings Pte Ltd taking total holding in it to 19.2 per cent. "This investment shows further momentum in our Capital Raising and supports our focus on marketing in order to accelerate brand awareness and sales growth for Koovs in India. Our ambition remains t...