Through its affiliate Sequoia Capital India Investments IV, the venture capital firm sold 20,00,000 shares as part of a bulk deal at Rs 1,140.14 a piece, data on the National Stock Exchange showed.
Sequoia Capital is the single largest public shareholder in
holding 13.88% stake as on September 30.
The big sale by the investor exerted pressure on the stock. It ended 5% down at Rs 1,136.60. Sequoia sold the stake at a 4.7% discount to Friday’s closing price of Rs 1,196.80.
Shares of Go Fashion have given positive returns to investors in 2022, as it has net gained more than 6%.
In a separate deal, Canara Robeco Mutual Fund bought 0.6% stake in the company for over Rs 36 crore.
Canara Robeco will be the 5th domestic mutual fund holding stake in the company.
, Kotak Mutual, Mutual Fund, and Axis Mutual Fund are the other domestic institutional investors that cumulatively held about 18% stake in the apparel company.
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