Go Fashion India (Go Colors) to use IPO funds to open new EBOs
03 September 2021, Mumbai:
Womenswear brand Go Colors’ operator Go Fashion India plans to use the proceeds from its latest IPO to fund the opening of 120 exclusive brand outlets.
As per Fashion Network, the brand will also use the funds to meet its working capital requirements and fund general corporate projects.
Go Colors retails a range of women’s ethnic wear, fusion wear, and casual wear. The brand’s USP is that it offers its styles in over 120 colours and focuses on leggings, palazzos, and jeggings among other bottoms. Shoppers can match the brand’s bottoms to their clothing of choice thanks to its wide colour selection.
The IPO includes a fresh issue of shares for Rs 125 crore ($18.8 million) as well as an offer for sale by various promoters and investors. The business is backed by Sequoia and ICICI Venture and filed its draft red herring prospectus with the Securities and Exchange Board of India.
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