Genesis Colors is all set to hit the capital market with its initial public offering (IPO) soon. The owner of luxury brands Satya Paul and Bwitch recently got regulator Sebi's approval for its public issue comprising sale of up to 1.91 million shares by existing shareholders in addition to fresh issue of shares worth Rs 380 crore.
Besides owning luxury brands, the company also sells global brands such as Jimmy Choo, Armani, Paul Smith, Canali, Coach, Furla, Hugo Boss and Bottega Veneta under its subsidiary Genesis Luxury Fashion.
Satya Paul is also the name of the designer who launched his brand in 1985.
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The global co-ordinators and book running lead managers for the Genesis Colors IPO are ICICI Securities and Edelweiss Financial Services.
Promoter and existing shareholders
Sanjay Kapoor is the promoter and managing director of Genesis Colors, whose subsidiaries include Burberrry India Pvt Ltd., Canali India Private Limited, V&B Lifestyle India Private Limited, Genesis Overseas Private Ltd. and Splendour Distributions Ltd.
The top existing shareholders of Genesis Colors include Sanjay Kapoor, Sequoia Capital India Growth Investments, HEP Mauritius, ICP Holdings and BCCL.
Sanjay Kapoor holds 39.63 percent of the current paid-up share capital while Sequoia holds 16.49 percent stake.
Objects of the issue
The company intends to use the proceeds of the fresh issue of shares to acquire shares of Genesis Luxury Fashion Private Ltd. from Splendour Distributions and promoter Sanjay Kapoor, apart from using the funds for general corporate purposes. Together, the two shareholders (Splendour and Kapoor) hold about 46 percent stake in Genesis Luxury Fashion.
For the year ended March 31, 2016, Genesis Colors incurred net loss of Rs 55.29 million on total income of Rs 1,141.68 million.
Genesis Colors was incorporated in November 1998 and became a public limited company in September 2016. The company is engaged in the manufacturing and trading of designer sarees, women apparels, designer ties, fabric and other accessories.
(Source: Draft Red Herring Prospectus of Genesis Colors Ltd.)
Model-actor Jacqueline Fernandes and designer Satya Paul at the Chennai Fashion International Week, 2009.IBT Media/S V Krishnamachari 
Model-actor Jacqueline Fernandez and designer Satya Paul at the Chennai International Fashion Week in 2009.IBT Media/S V Krishnamachari
