Desai & Diwanji acts on Gaurik Fashions IPO

Gaurik Fashions Limited has filed a draft red herring prospectus with SEBI for an initial pubic offering comprising a fresh issue of up to 62,00,000 Equity Shares and an Offer for Sale by the Investor Selling Shareholder of up to 8,00,000 Equity Shares.

Desai & Diwanji is advising Gaurik Fashions and the Book Running Lead Managers on the proposed IPO.

The transaction team consists of Tushar Dey (Senior Partner), Akshay Bhagchandani (Partner) and Associates Ankit Rao, Ria Jain and Divam Garg.

Gaurik Fashions is engaged in retail and distribution business across the footwear, apparel and accessories segments. The Company is associated with globally recognized brands such as Skechers, Ray-Ban, Guess?, Bugatti, Luxottica and Sweaty Betty.

The Company plans to use the proceeds from the IPO for setting up new stores from Skechers, Guess? and Bugatti, as well as for debt repayment and general corporate purposes.

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