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Punjab Crockery House, better known as PCH for its chain of retail stores in home appliances and furnishing businesses, is finalising plans for a public float, according to the Chairman and Managing Director, PCH Retail Solutions Ltd, Mr Balvinder Singh.
“We are present in South and Western regions of the country with a chain of over 200 stores and plan to add about 75 stores during the year. Towards expansion, we are in the process of finalising plans for a public offer to raise about Rs 200 crore,” he told Business Line .
Diversification
“With over 50 years of business, beginning with Punjab Crockery House, we have diversified into setting up of a chain of electronics stores, including mobile stores and home furnishings. We are looking at the public offer some time in March this year. The idea is to raise some funds for expansion and also facilitate some of the long term investors in the company to exit it,” he said.
Asked if the company is inviting private equity investments, he said that currently there is no such move on this front. “The company closed last year with a turnover of about Rs 3,000 crore,” he claimed.
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