Gaurik Fashions files IPO SEBI, offers 62L, Aries sells 8L
Business
New Delhi's Gaurik Fashions, the company behind stores like Skechers, Guess, and Bugatti, just filed for an IPO with SEBI.
They're planning to raise funds by offering 62 lakh new shares and selling 8 lakh shares held by Aries Opportunities Fund.
Proceeds to expand stores, repay debt
The main goal is expansion: think more Skechers and Guess outlets popping up soon. Their subsidiaries will also use the funds to open new Bugatti stores and stock up on inventory.
Some of the money will help pay off debts and cover general expenses.
The IPO is being handled by Credora Partners and Unistone Capital, with MAS Services as registrar.