Through its Sequoia Capital India Investments IV subsidiary, the venture capital firm sold 2,000,000 shares as part of a bulk deal for Rs 1,140.14 per share, Stock Exchange data country shows.
Sequoia Capital is the only largest public shareholder in go fashion holding 13.88% shares as of September 30.
The rush of investors to sell has put pressure on the stock. It ended down 5% at Rs 1,136.6. Sequoia sold the shares at a discount of 4.7% from Friday’s closing price of Rs 1,196.8.
Go Fashion stock has delivered positive returns for investors in 2022, as it has gained more than 6% net gain.
In a separate deal, the Canara Robeco Mutual Fund purchased a 0.6% stake in the company for more than Rs 36 crore.
Canara Robeco will be the fifth domestic mutual fund to hold shares in the company.
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