Image default

Sequoia Capital sells entire 10.18% stake in Go Fashion for Rs 625 cr

Venture capital company Sequoia Capital on Monday divested its entire 10.18 per cent stake in Go Fashion for Rs 625 crore through an open market transaction.

US-based Sequoia Capital through its affiliate Sequoia Capital India Investments IV offloaded the shares in Go Fashion (India).

Societe Generale, Kuwait Investment Authority Fund 223, ICICI Prudential Life Insurance Company and BNP Paribas Arbitrage were the buyers of the shares.

Sequoia Capital India Investments IV sold 54,98,875 shares at an average price of Rs 1,136.10 apiece, taking the transaction value to Rs 624.72 crore, as per the bulk deal data available on the National Stock Exchange (NSE).

As of the March quarter, Sequoia held nearly 55 lakh shares, equivalent to a 10.18 per cent stake in the Chennai-based firm.

Go Fashion (India) was listed on BSE and NSE in November 2021, after it successfully launched Rs 1,013.6-crore initial public offering (IPO).

On Monday, shares of Go Fashion (India) plunged 4.86 per cent to close at Rs 1,136.50 per piece on the NSE.

Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand Go Colors.

Source link

Related posts

Ticket 9 is simplifying event management by automating manual tasks

Sarah Villa

Potential Motors, Chinova Bioworks, Introhive feted at New Brunswick innovation awards ceremony

Sarah Villa

Canadian venture capital investment in Q1 2023 drops by 82 percent compared to last year

Sarah Villa

More Big Money For AI: Insider Raises $105M

Sarah Villa

Symend closes $54 million CAD to pursue global expansion amid uncertain economic environment

Sarah Villa

Plug and Play Insurtech Europe announces 13 startups selected for batch 9

Sarah Villa

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More