14 June 2023, Mumbai
Sequoia Capital Plans Stake Sale; Venture capital firm Sequoia Capital is set to divest a 10.18% stake in Go Fashion, the parent company of Go Colors, through a block deal, with a floor price of ₹1,135 per share.
Business Separation Strategy Revealed
The block deal is valued at ₹624 crore. Sequoia India, the largest VC firm in the country, holds this stake, as per the shareholding pattern shared with the BSE.
The strategic move follows the decision to establish independent firms
Recent developments include Sequoia Capital's decision to separate its US, China, and India-Southeast Asia businesses into independent firms by March 2024. The China business will be named HongShan, while India and Southeast Asia will become Peak XV Partners.
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