Gokaldas Exports is one of India’s largest manufacturer/exporter of apparel. Its product strengths – outerwear, bottoms, sportswear, formal suits, trousers, skirts, and denim wear – across all genders.
Gokaldas Exports has 30 state-of-the-art factories and 32,000 employees.
Private Equity firm Blackstone Capital Partners sold 3,450,000 shares representing 9.92% of the share capital to ICICI Bank (Investments) at an avg. price of Rs. 126/- per share. This values the deal at Rs. 43.54 Cr.
This bring down the PE firms stake to 16,533,742 shares or 47.52%.
Blackstone took over the company from the Hinduja family (not the Hinduja Group) during the economic downturn in 2008-09, which led to loss of orders from the US and Europe and has been struggling to turn around the company since.
Disclaimer
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.
