Gaurik Fashions, retailer of popular brands such as Skechers and Ray-Ban, filed its Draft Red Herring Prospectus (DRHP) on Sunday, May 10, with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The public offer will include a fresh issue of up to 62,00,000 equity shares and an offer for sale (OFS) of up to 8,00,000 equity shares at a face value of Rs 10 per share.
The retailer aims to utilise the proceeds of the issue to set up six new stores for Skechers, funding capital expenditure to build new stores, and meeting initial inventory requirements for these outlets. Additionally, the funds will be for investments in the company's subsidiaries such as Gaurik Lifestyle Private Limited and Nuvora Retail Private Limited, along with repayment of debt, and general corporate purposes.
The shares are proposed to be listed on bechmark indices, National Stock Exchange of India (NSE) and the BSE. The book running lead manager for the issue is Credora Partners Private Limited and Unistone Capital Private Limited, while MAS Services is the registrar.
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About Gaurik Fashions
Gaurik Fashions was incorporated in 2017 and began operations in the distribution of sportswear and lifestyle brands. Two year later, the company entered into the retail segment with the launch of an Exclusive Brand Outlet for Skechers.
Since 2023, the retailer expanded its brand portfolio through franchise-based retail operations for Bugatti and by entering into a non-exclusive distribution arrangement with Luxottica including Ray-Ban, for premium eyewear brands.
The company subsidiary secured exclusive distribution rights in India for Bugatti, TT. Bagatt, and Bagatt, collectively referred as Bugatti in 2025. Gaurik Fashions has stores across India, including major malls such as DLF Mall of India, Noida; Select Citywalk, Saket, New Delhi; DLF CyberHub, Gurugram; DLF Promenade, Vasant Kunj, New Delhi; Nexus Ahmedabad One, Ahmedabad; and Inorbit Mall, Cyberabad, Hyderabad and others.
As on March 31, 2026, the firm operated a network of 59 stores under the franchise owned and franchise operated model and company owned and company operated mode.
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