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 Fashion (India) Limited has successfully secured shareholder approval for the appointment of Ms. Sakshi Vijay Chopra as a Non-Executive Independent Director through postal ballot. The special resolution was passed with overwhelming support, receiving 99.99% votes in favor on December 18, 2025.

Postal Ballot Results

The voting results demonstrate strong shareholder confidence in the appointment:

Key Details of the Appointment

Professional Background

Ms. Chopra brings extensive experience to her new role at Go Colors. Her career highlights include:

• Focus on growth-stage companies
• Advisory roles in investments across consumer and fintech sectors
• Experience with companies such as Five Star Business Finance, Indigo Paints, Yubi, Neo, Purplle, HealthKart, and Wakefit
• Previous work at Deutsche Bank in Germany and India
• Current association with PeakXV (previously known as Sequoia)

Ms. Chopra holds an MBA from the Asian Institute of Management, adding to her qualifications for this position.

Compliance and Process

The postal ballot process was conducted in accordance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had initially corrected the appointment date from November 7, 2025, to November 17, 2025, in a previous corrigendum.

Srinidhisridharan Associates served as the scrutinizer for the postal ballot process, ensuring proper compliance with all regulatory requirements. The voting was conducted entirely through remote e-voting facility provided by National Securities Depository Limited (NSDL).

This appointment strengthens Go Colors' board composition with an experienced professional, reflecting the company's commitment to robust corporate governance and strategic growth in the Indian fashion retail sector.