Go Fashion (India) Pvt Ltd, which owns ladies’s put on model Go Colors, has filed draft papers with markets regulator Sebi to garner funds by an preliminary share-sale.
The preliminary public provide (IPO) includes recent problem of fairness shares price up to Rs 125 crore and a suggestion-for-sale (OFS) of up to 12,878,389 fairness shares by promoter and current shareholders, as per the draft purple herring prospectus.
Under the OFS, PKS Family Trust and VKS Family Trust will offload 7.45 lakh fairness shares every, Sequoia Capital India Investments will promote up to 74.98 lakh shares, India Advantage Fund S4 I’ll divest up to 33.11 lakh shares and Dynamic India Fund S4 US I’ll promote up to 5.76 lakh shares.
Currently, PKS Family Trust and VKS Family Trust maintain 28.74 per cent stake every within the firm, Sequoia Capital holds 28.73 per cent stake, India Advantage Fund has 12.69 per cent stake and Dynamic India Fund owns 1.1 per cent stake within the agency.
Proceeds from the recent problem will probably be used to fund rollout of 120 new unique model shops, assist working capital necessities and for normal company functions.
The firm is engaged within the improvement, design, sourcing, advertising and retailing of a variety of girls’s backside-put on merchandise underneath the model, ‘Go Colors’.
It is among the many few attire corporations in India to have recognized the market alternative in ladies’s backside-put on and has acted as a ‘class creator’ for backside-put on.
Its backside-put on merchandise, together with churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers and jeggings, are bought throughout a number of classes akin to ethnic put on, western
put on, fusion put on, athleisure, jeans and plus sizes.
JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers to the problem. The fairness shares will probably be listed on BSE and NSE.
(Only the headline and movie of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has all the time strived exhausting to present up-to-date info and commentary on developments which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how to enhance our providing have solely made our resolve and dedication to these beliefs stronger. Even throughout these troublesome occasions arising out of Covid-19, we proceed to stay dedicated to holding you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.
As we battle the financial affect of the pandemic, we want your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, truthful and credible journalism. Your assist by extra subscriptions can assist us practise the journalism to which we’re dedicated.
Support high quality journalism and subscribe to Business Standard.
Digital Editor
