HTL Capital, an India-based distributor of upholstered furniture, withdrew its plans for an initial public offering on Thursday. It had filed in August 2024 to raise $19 million by offering 3.8 million shares at a price range of $4 to $6.
The Bengaluru, India-based company was founded in 1976 and booked $10 million in revenue for the 12 months ended June 30, 2024. It had planned to list on the Nasdaq under the symbol NCG. Tiger Brokers was set to be the sole bookrunner on the deal.