UK-based retailer SuperGroup, which postponed its IPO last month sighting unfriendly market conditions, has now moved ahead with the public issue program to raise nearly £395 million from the market.

The public offer also includes a 31.7 per cent private placement to institutional investors and balance for the retail investors. Post market listing the retailer's officials, staffs and related investors will have a 68% stake in the company's ordinary equity capital.

SuperGroup public issue will be the first in more than two years by any company in the particular sector. Sports Direct was the last fashion retailer, which was listed on the bourses in 2007. It had raised a net £120 million after deduction of all charges.

While the private placement has been oversubscribed by a huge margin, retail segment will open for subscription on March 15, the company informed.

SuperGroup's Founder Julian Dunkerton said that the group was happy about the way institutional investors showed their confidence and now the company can open its offer to the public with higher confidence.

The fashion retailer manufactures brand like Superdry sported by celebrities like David Beckham.