Cantabil Retail India, the discount retailer thinks to hoist Rs 105 crore throughout its initial public offering which unbolts on September 22. The group on Friday settled the price band at Rs 127-Rs 135 per share.

There might be intensity of 48% stake, subsequent to the public issue. The issue shall be during a 100% book-building procedure, in which as a minimum 50% will be owed on in a proportion basis to qualified institutional buyers.

According to Vijay Bansal, the chairman and managing director of Cantabil Retail along with proceed of the IPO, they propose to set up 180 stores athwart the nation, with the converge on the southern region, domains like Tamil Nadu, Kerala and Karnataka.

Amongst the 180 stores, a third of them shall be group-managed and two-thirds will be franchisee-managed. For that similar, they shall exhaust Rs 25 crore.

Whereas approximately Rs 32 crore will be utilized towards formation of a new manufacturing service, the remainder of the IPO earnings will be utilized towards working capital and for repayment of debt, Bansal added.