Gaurik Fashions.
Desai & Diwanji Advises on Gaurik Fashions’ Proposed IPO: Mumbai — Retail and fashion distribution company Gaurik Fashions Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering (IPO), as the company looks to expand its retail footprint and strengthen its balance sheet.
The proposed offering comprises a fresh issue of up to 62 lakh equity shares along with an offer for sale (OFS) of up to 8 lakh equity shares by an existing investor shareholder.
Law firm Desai & Diwanji is acting as legal counsel to both Gaurik Fashions and the book running lead managers in connection with the proposed public issue.
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The transaction team from the firm is being led by Tushar Dey, alongside Akshay Bhagchandani, with support from associates Ankit Rao, Ria Jain and Divam Garg.
Advocate Tushar Dey, Desai and Diwanji.
Gaurik Fashions operates across the retail and distribution segments in footwear, apparel and fashion accessories, and has built partnerships with a range of global lifestyle brands. Its portfolio includes associations with Skechers, Ray-Ban, Guess?, Bugatti, Luxottica and Sweaty Betty.
According to the DRHP, the company intends to utilise the proceeds from the fresh issue to fund the opening of new retail stores for brands including Skechers, Guess? and Bugatti. A portion of the proceeds will also be used toward repayment or prepayment of debt obligations, with the remaining funds earmarked for general corporate purposes.
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Advocate Akshay Bhagchandani, Desai and-Diwanji.
The IPO filing comes amid sustained investor interest in India’s organised retail and premium fashion segments, particularly businesses tied to international consumer brands and expanding discretionary spending trends. Industry observers note that fashion and lifestyle retailers with established distribution networks and multi-brand partnerships have increasingly tapped capital markets to finance expansion and improve operational scale.
The proposed issue is subject to regulatory approvals, market conditions and other customary considerations.
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