Indian clothing raises Rs 50 cr

Indian Clothing League has raised Rs 50 crore funding from mid-market private equity fund ASK Pravi PE Opportunities Fund to carry out its manufacturing and retail expansion plans. ASK Pravi will acquire almost 26 to 49 percent take in the venture. With the two popular brands 612 Ivy League and Baby League under its belt, the company already has a tie up with large format stores such as Shoppers Stop and Reliance Retail apart from leading e-commerce portals like Flipkart and Jabong.