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Gokuldas Exports launches QIP to raise Rs 300 crore


Apparel maker and exporter Gokuldas Exports has launched a qualified institutional placement offering (QIP) to raise Rs 300 crore from institutional investors including Goldman Sachs, HSBC, Nippon and others. The company plans to use the funds for repayment or prepayment of all or a portion of its borrowings, financing working capital requirements, inorganic growth opportunities and for making strategic acquisitions, entering into a new business line, the company said in its offer document filed with stock exchanges.

Incorporated in 2004, Gokaldas Exports is one of the largest manufacturer and exporter of apparels in India with an annual turnover of $200 million.