Mirae Asset Mutual Fund has substantially reduced its shareholding in Go Colors , disclosing the transaction under SEBI's takeover regulations. The mutual fund sold a significant portion of its stake through open market operations on January 13, 2026.

Transaction Details

The key parameters of the share disposal are outlined below:

Shareholding Changes

The transaction resulted in a notable change in Mirae Asset Mutual Fund's ownership structure in the textile company:

Company Information

Go Fashion (India) Ltd. maintains its equity share capital at 54,008,984 shares, with no changes reported in the total voting capital following this transaction. The company's shares are listed on both the National Stock Exchange of India Ltd. and BSE Ltd.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on January 14, 2026. Mirae Asset Investment Managers (India) Private Limited, through its Head of Compliance, Legal and Company Secretary Rimmie Jain, submitted the required documentation to both stock exchanges where the company is listed.

Market Context

Mirae Asset Mutual Fund is not part of the promoter or promoter group of Go Fashion (India) Ltd. The fund's decision to reduce its stake represents a strategic portfolio adjustment, with the remaining 0.37% holding indicating continued but reduced exposure to the textile sector company.

Go Colors promoter Rahul Saraogi has pledged 12 lakh equity shares to leading banks, marking a significant corporate financing development. The pledge was created on December 10, 2025, and disclosed in compliance with regulatory requirements.

Pledge Details and Banking Partners

The share pledge involves two prominent banking institutions as lenders, with Catalyst Trusteeship Limited serving as the trustee. The arrangement demonstrates the company's engagement with established financial institutions for corporate financing needs.

Promoter Holdings Structure

The disclosure reveals the comprehensive shareholding pattern of Go Fashion's promoter group. The promoters maintain substantial ownership in the company while utilizing share pledging for financing arrangements.

Regulatory Compliance

The pledge creation was disclosed under Regulation 31(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates timely disclosure of any encumbrance created on shares held by promoters and persons acting in concert.

Rahul Saraogi, in his capacity as Managing Trustee of VKS Family Trust and promoter of Go Fashion (India) Limited, submitted the disclosure to both BSE Limited and National Stock Exchange of India Limited. The company's registered office is located at Nungambakkam High Road, Chennai.

Impact on Shareholding Pattern

Following this pledge creation, the total pledged shares by the promoter group now represent 12.75% of the company's total share capital. The promoters continue to maintain majority control with their combined holding of 52.79% in the textile company. The pledge arrangement provides the promoters with access to financing while maintaining their significant stake in the business operations.