GO FASHION (INDIA) LIMITED files DRHP with SEBI for its IPO
GO FASHION (INDIA) LIMITED among the largest women’s bottom-wear brands in India, with a market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020 (Source: Technopak Report) filed its DRHP with SEBI.
The company is engaged in the development, design, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand, ‘Go Colors’ and are among the few apparel companies in India to have identified the market opportunity in women’s bottom-wear and have acted as a ‘category creator’ for bottom-wear. They have leveraged their first-mover advantage to create a direct-to-consumer brand with a diversified and differentiated product portfolio of premium quality products at competitive prices. (Source: Technopak Report)
The Initial Public Offer (IPO) consists of equity shares of face value of ₹10 each (“Equity Shares”) of GO Fashion (India) Limited comprising a fresh issue aggregating up to ₹1,250 million by the Company (the “Fresh Issue”) and an offer for sale of up to 745,676 equity shares by PKS FAMILY TRUST, up to 745,676 equity shares by VKS FAMILY TRUST (collectively referred to as to the “PROMOTER SELLING SHAREHOLDERS”), up to 7,498,875 equity shares by SEQUOIA CAPITAL INDIA INVESTMENTS, up to 3,311,478 equity shares by INDIA ADVANTAGE FUND S4 I and up to 576,684 equity shares by DYNAMIC INDIA FUND S4 US I. (COLLECTIVELY REFERRED TO AS “INVESTORSELLING SHAREHOLDERS)
The Company proposes to utilise the Net Proceeds towards: (i) Funding roll out of 120 new Exclusive Brand Outlets; (ii) Funding working capital requirements and (iii) General corporate purposes.
BOOK RUNNING LEAD MANAGERS to the issue: JM Financial Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited) and ICICI Securities Limited^.
The equity shares will be listed on BSE and NSE.