NEW DELHI -- ICICI Venture, the alternative investment arm of ICICI Bank, is in talks to invest in Indian traditional clothing brand Libas, which is currently busy carving out expansion plans to cash in on the country's upcoming festive season.
"Talks are at a fairly advanced stage. ... It is that time of the year when demand for Indian traditional wear goes up, so the company has big plans for now and the years ahead," a source told DealStreetAsia, highlighting how both parties involved are "trying to close the deal at the earliest" opportunity.
