Venture Capital Company Sequoia Capital has divested its entire 10.18 per cent stake in Go Fashion (India) 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).
As per the bulk deal data available on the National Stock Exchange (NSE), 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 of the March quarter, Sequoia held nearly 55 lakh shares, equivalent to a 10.18 per cent stake in the Chennai-based firm. Societe Generale, Kuwait Investment Authority Fund 223, ICICI Prudential Life Insurance Company and BNP Paribas Arbitrage were the buyers of the shares.
Go Fashion (India) is engaged in the development, design, sourcing, marketing, and retailing of a range of women's bottom-wear products under the brand, 'Go Colors'.
