By Faseeh Mangi
The company plans to raise as much as 6.8 billion rupees ($51 million) to expand its sock manufacturing capacity by around 20 percent and enter the denim business.
Zhaogang.com plans to proceed with a regular IPO, selling stock that has the same voting rights as that held by company founders.
Warburg Pincus and General Atlantic own a combined 49 percent stake in Network International.
Last month, the company announced a partnership with Bharat Sanchar Nigam Ltd to offer “triple play” services.
CNFinance scaled back its IPO target in the US from $200 million in July to a mere $48.75 million.
The new law also proposes that companies could go ahead with listing after the completion of the initial public offering process.
Tokyo-based SoftBank will announce the details for the debut sale as early as next week.
There are more than 250 companies in the IPO pipeline for next year, including many in the technology sector, according to Li.
China is in another listing drought, two years after the IPO floodgates were reopened. So far this year, just 80 companies got the nod.
The extra money would strengthen the company’s finances, improve its credit rating outlook and help to lower funding costs.