Sequoia exits Go Fashion, makes 15x gain

Global venture capital firm Sequoia Capital, now rebranded as Peak XV Partners, has exited its near decade-long investment in Go Fashion (India). The fund on Monday sold its remaining 10.18% stake in the women's apparel maker for nearly Rs625 crore, according to exchange deal data.

Sequoia sold nearly 55 lakh shares of Go Fashion at Rs.1,136.10 apiece, data showed.

The sale price was at a 5% discount to Friday's closing price.

Shares of the Chennai-based company, which sells its products under the brand Go Colors, fell more than 5% in Monday's trading. The stock closed at Rs.1,136.50 apiece on the NSE, down 4.86% from Friday's close.

In November 2014, Sequoia Capital had acquired a 33.3% stake in Go Fashion for Rs. 60 crore.

The company went public in November 2021 that saw its promoters and other shareholders, including Sequoia, trim their respective holdings in the public issue.