Bengaluru-based fashion company Universal Sportsbiz is raising Rs 30 crore in debt funding from independent corporate trustee Vistra ITCL (India) on behalf of Spark Alternative Investment Trust. According to the Ministry Of Corporate Affairs filing, Universal Sportsbiz will allot 300 redeemable and non-convertible debentures (NCD) with a face value of Rs 10 lakh per share to raise a total of Rs 30 crore.
USPL was founded by Anjana Reddy in 2012 and is backed by ecommerce giant Flipkart, venture capital fund Accel as well as celebrities such as cricketers Sachin Tendulkar and Virat Kohli.
USPL’s portfolio of brands includes WROGN, a men’s casual wear brand; Imara, a women’s contemporary ethnic fashion brand; and Ms Taken, a women’s western wear line. The company has forged multiple partnerships with sports and movie personalities to co-create these apparel brands, which are sold online as well as through the retail channels.
