Secondary Issues
Apparel maker Gokaldas Exports raises Rs.300-Cr through QIP
Apparel maker and exporter Gokaldas Exports Ltd has raised INR 300 crore from institutional investors, including funds managed by Goldman Sachs, HSBC, Nippon and others, through a qualified institutional placement (QIP) offering. The company had launched the QIP offering on 4 October at a floor price of INR 194.58 apiece. The company plans to use the funds for debt repayment, financing working capital requirements, inorganic growth opportunities and for making strategic acquisitions and for entering into a new business line. Investment bank JM Financial advised the company on the fundraise.
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