Divya Agarwal
Mumbai (Maharashtra) [India], May 12: Gaurik Fashions has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), aiming to raise capital to expand its premium fashion and lifestyle retail network across India.
The proposed IPO comprises a fresh issue of 62 lakh equity shares along with an offer for sale (OFS) of 8 lakh shares by existing investor Aries Opportunities Fund. The company intends to list its equity shares on both the National Stock Exchange (NSE) and the BSE.
The IPO proceeds are proposed to be utilised for the expansion of the company’s retail footprint through new stores for the global footwear and apparel brand Skechers. The company will also invest in its wholly owned subsidiary, Gaurik Lifestyle to open additional outlets for Guess and in subsidiary, Nuvora Retail, for launching new Bugatti stores and supporting inventory requirements.
Apart from expansion, the company plans to allocate funds towards repayment and prepayment of certain borrowings at both the company and subsidiary levels, along with meeting general corporate purposes.
Credora Partners and Unistone Capital are acting as the book-running lead managers to the issue, while MAS Services has been appointed as registrar.
As of March 2026, Gaurik Fashions operated 59 stores across 14 states and Union Territories, retailing footwear, apparel and accessories through partnerships with international brands. Its stores are present in premium retail destinations such as DLF Mall of India, Select Citywalk, DLF CyberHub, and Inorbit Mall.
The company also highlighted improving operational performance in its DRHP. EBITDA margin expanded to 26.14 per cent, while key brand metrics remained robust. During the period ended December 31, 2025, Skechers recorded average revenue per square foot of ₹16,157 and an average selling price of ₹4,284. Guess reported an average order value of ₹11,303, while Bugatti achieved an average revenue per square foot of ₹46,636.
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