Cantabil Retail India Ltd, the Delhi-based apparel retailer is keen of tier-1 and 2 cities for expansion of its brand offerings to meet the increased demands of the growing middle class consumers. The Company is planning an IPO by June end to raise Rs105cr. Besides funding its retail expansion, the proceeds from the IPO will be used for debt repayment of Rs60cr and also to set up a manufacturing facility in Bahadurgarh in Haryana. Vijay Bansal, Chairman and Managing Director, Cantabil Retail, said, “Fast developing smaller towns are currently under-served and give scope for our brands to expand. We intend to have at least 20 per cent of our upcoming outlets in tier-2 cities and towns. Further, we also plan to expand to the southern and eastern part of India.” The company designs, manufactures and retails readymade garments and accessories, with 416 retail outlets spread pan-India. The brand, positioned in the mid-market, retails menswear, womenswear and kidswear through its retail outlets Cantabil and La Fanso.