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Stocks

PE firm Blackstone Capital Partners sells 10% stake in Gokaldas Exports to ICICI Bank (Investments)

Gokaldas-Logo.png

Gokaldas Logo

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

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.

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