Apparel company Koutons Retail India is to sell about 8-9% of its equity to fund a widescale retail expansion.

Koutons wants to have 3,500 retail outlets by 2009/10 compared to 354 at present.

It is also planning an IPO in the first quarter of financial 2007/08

Offloading its equity could bring in about INR700m (US$15.33m), which would contribute to the total INR3.25bn earmarked for production, warehousing and retail expansion.