Indya and FabAlley parent HSE secures ₹50 crore round led by Sangita Jindal
Summary
Mumbai: High Street Essentials (HSE), the parent company of womens fashion brands Indya and FabAlley, has raised 50 crore in a mix of equity and debt to expand its presence in Indias wedding and occasion-wear market.The funding was led by Sangita Jindal, chairperson, JSW Foundation. The round also saw the participation of family offices of SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home + Living.While 75% of the capital was raised through equity, the remaining 25% was via debt. Lighthouse Canton advised Indya on this fundraise.In May 2022, the retailer had raised 40 crore in a combination of equity and debt from Stride Ventures.The fundraising marked HSEs entry into the premium occasion and wedding-wear market. The Indya investment follows Sangita Jindal-led JSW Foundations long-term collaboration with Jade By Monica and Karishma for the Grassroot Artisans Project (GAP).When we closed the 2022 round the idea was to build a large presence in the wedding-wear market in the mid-to-premium segment. So, we have added a lot on the product and distribution side through our own stand-alone stores and through international expansion largely in the US and some parts of Malaysia, UK and Canada," said Shivani Poddar, co-founder, HSE.