Genesis Colors Pvt. Ltd, the Sequoia Capital-backed owner of luxury fashion labels is planning to raise Rs. 650 crore via IPO to fund expansion.
Report says that the IPO process is expected to be kick-started shortly and could happen early next financial year.
Genesis was founded in 2001 by Sanjay Kapoor, Jyoti Narula and Puneet Nanda, Satya Paul’s son.
In 2008, private equity investors Sequoia Capital and Mayfield put in about Rs.110 crore for a minority stake in Genesis Colors.