Ge­n­e­sis Col­ors Gets Nod for .₹ 500-cr IPO

Co to raise .₹ 380 cr via fresh share is­sue, rest will be on be­half of its in­vestors seek­ing exit

The Economic Times - - Companies: Pursuit Of Profit - Anu­meha.Chaturvedi @times­group.com

New Delhi: Ge­n­e­sis Col­ors, the hold­ing com­pany of fash­ion brands like Satya Paul, re­ceived the cap­i­tal mar­kets reg­u­la­tor’s ap­proval to make a ₹ 500-crore ini­tial pub­lic of­fer­ing (IPO).

Ge­n­e­sis Lux­ury, which re­tails brands like Jimmy Choo, Ar­mani and Burberry in In­dia, is a sub­sidiary of Ge­n­e­sis Col­ors.

Of the ₹ 500 crore it aims to raise, ₹ 380 crore will be through a fresh is­sue of shares while the rest will be on be­half of ex­ist­ing share­hold­ers who want to mon­e­tise their hold­ing, ex­ec­u­tive chair­man San­jay Kapoor said.

Ge­n­e­sis Group’s in­vestors in­clude Se­quoia, Hen­der­son, May­field and Saama Cap­i­tal.

The draft red her­ring prospec­tus, or the ini­tial of­fer doc­u­ment, was filed in last Septem­ber.

Ge­n­e­sis Col­ors owns fash­ion brands Satya Paul and Bwitch, while Ge­n­e­sis Lux­ury mar­kets and dis­trib­utes lux­ury and pre­mium brands such as Ar­mani, Bot­tega Veneta, Jimmy Choo, Michael Kors and Coach in In­dia. The com­pany has joint ven­ture ar­range­ments with Burberry and Canali. Brands of Ge­n­e­sis Col­ors are present in 20 cities through over 100 stand­alone stores.

“They have a fairly good bou­quet of brands which gives them a com­pet­i­tive pric­ing ad­van­tage which helps them in­flu­ence real es­tate prices (to set up out­lets),” said Vivek Kaul, head, re­tail ser­vices In­dia, CBRE South Asia.

Last May, Ge­n­e­sis Group shuf­fled key man­age­ment po­si­tions, which it stated were in line with plans to re­struc­ture and con­sol­i­date the busi­ness as one en­tity in 12-18 months as in­vestors could con­sider an exit. Man­ag­ing direc­tor San­jay Kapoor was el­e­vated to ex­ec­u­tive chair­man, while Nikhil Mehra, the op­er­a­tions chief, was named the chief ex­ec­u­tive.

Co is the hold­ing en­tity of fash­ion brands like Satya Paul and Bwitch

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