Value fashion retailer Citykart has raised Rs 538 crore in a funding round comprising both primary and secondary transactions, with participation from TPG NewQuest and A91 Partners.
The latest round is expected to value the company at around Rs 1,400 crore, people familiar with the development said.
Of the total capital raised, Rs 120 crore is fresh capital that will be used to expand Citykart’s footprint beyond its core markets of tier-II and tier-III cities in Uttar Pradesh and Bihar, its founder and managing director Sudhanshu Agarwal told ET.
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