Sequoia completely exits Go Fashion

Sequoia has sold it’s remaining 10.18% in Go Fashion (GF), marking a complete exit from a decade old investment.

  • It had acquired 33.3% stake in GF in November 2014 for Rs 60 cr
  • Over years, it has pared it’s stake in the following manner
    • Pre IPO in November 2021, Sequoia held 28.73% stake in the Company. That got reduced to 13.88% post IPO both due to stake sale by Sequoia during IPO and fresh issue of equity to public. Sequoia had got about Rs 517 cr from stake sale during the IPO.
    • 3.7% in December 2022 for Rs 228 cr
    • Now in June 2023, 10.18% for Rs 625 cr
  • Above implies a total minimum realisation of Rs 1,370 cr by Sequoia against Rs 60 cr investment i.e., 23x
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