Apparel maker Go Colors files DRHP for IPO

Go Fashion (India)-owned Go Colors has filed a draft red herring prospectus with capital market regulator Sebi to launch an IPO. The issue comprises fresh issue of shares worth INR 125 crore and an offer for sale (OFS) of up to 1.28 crore shares by its existing shareholders and promoters. The OFS will see selling of up to 7.46 lakh shares each held by PKS Family Trust and VKS Family Trust, 75 lakh shares by Sequoia Capital India, up to 33 lakh shares by India Advantage Fund and up to 5.77 lakh shares by Dynamic India Fund. PKS Family and VKS Family Trust hold a 28.74% stake each. Sequoia Capital India holds a 28.73% stake, India Advantage Fund 12.69% and Dynamic India Fund 1.1%. The book running lead managers to the issue are JM Financial, DAM Capital Advisors and ICICI Securities. KFin Technologies will be the registrar to the issue.