Gaurik Fashions IPO

The Gaurik Fashions IPO is a book-built issue of up to 0.70 crore equity shares. This includes a fresh issue of up to 0.62 crore shares and an offer for sale (OFS) of up to 0.08 crore shares. The company filed its Draft Red Herring Prospectus (DRHP) with SEBI on May 10, 2026.

Its equity shares on both the NSE and BSE. Credora Partners Pvt. Ltd. is the book-running lead manager for the IPO, while MAS Services Ltd. will act as the registrar.

Gaurik Fashions IPO Important Dates

Yet to be announced

About Gaurik Fashions

Gaurik Fashions Limited is engaged in the retail and distribution of global fashion, lifestyle and activewear brands in India. The company operates through franchise stores and exclusive distribution rights across footwear, apparel and accessories. 

It is a major franchise partner of Skechers and operates Exclusive Brand Outlets and Factory Outlets. Through its subsidiaries, it also manages Guess? stores and holds exclusive distribution and retail rights for brands such as Bugatti, Bagatt and T.T. Bagatt. It also has exclusive distribution rights for premium activewear brand Sweaty Betty in India. 

As of March 31, 2026, the company operated 59 stores across 14 states and Union Territories, with 43 stores located in premium shopping malls. Around 84% of its sales come from Tier-1 cities, with Delhi-NCR and Karnataka contributing about 57% of revenue. Skechers accounted for 33 stores, while Guess? had 20 stores.

Industry Outlook

1. The Indian retail market is expected to grow from around $1.06–$1.18 trillion in 2024 to $1.93–$2 trillion by 2030, at a 9%–10% CAGR.
2. The Indian fashion retail market is projected to increase from $60.12 billion in 2024 to $124.32 billion by 2030, growing at a 12.87% CAGR.
3. Organised retail is expected to grow from around $132 billion in 2024 to more than $230 billion by 2030. Its share of the overall retail market could exceed 35% by 2030.
4. Online fashion retail is expected to grow at a 21.1% CAGR between 2025 and 2030, creating a market opportunity of more than $56 billion.
5. Tier-2 and Tier-3 cities are seeing rising demand for branded fashion. These markets are expected to add around 100 million new aspirational consumers by 2030.
6. Gen Z and millennials are expected to contribute around 43% of domestic consumption, supporting demand for premium fashion, athleisure and lifestyle brands.

Gaurik Fashions IPO Objectives

The company will issue 62 lakh new equity shares, with net proceeds of around ₹107.89 crore to ₹110 crore.

1. Around ₹64.08 crore will be used to reduce debt:
2. ₹42.34 crore will be used to repay or prepay borrowings of Gaurik Fashions.
3. ₹21.74 crore will be used to repay or prepay debt of its subsidiaries, Gaurik Lifestyle Private Limited and Nuvora Retail Private Limited.
4. Around ₹43.81 crore will be used to open 18 new stores:
   1. 6 new Skechers stores: ₹29.49 crore for store setup and initial inventory.
   2. 7 new Guess stores: ₹5.98 crore through its subsidiary Gaurik Lifestyle Private Limited.
   3. 5 new Bugatti stores: ₹8.34 crore through Nuvora Retail Private Limited for store setup and initial inventory.
5. The remaining funds will be used for general business needs, including working capital, marketing, administrative expenses and other strategic initiatives.

The IPO will also include an OFS of 8 lakh shares by Aries Opportunities Fund Limited. The money raised through the OFS will go directly to the selling shareholder and will not be received by Gaurik Fashions.

Financial Performance of Gaurik Fashions 

Gaurik Fashions Peer Comparison

Strengths and Opportunities for Gaurik Fashions IPO

1. The company has a strong portfolio of global brands, including Skechers, Guess?, Bugatti, Bagatt and Sweaty Betty, giving it a presence across footwear, apparel and lifestyle segments.
2. It holds exclusive distribution and retail rights in India for brands such as Bugatti, Bagatt and Sweaty Betty, strengthening its position in the premium fashion and lifestyle market.
3. With 59 stores across 14 states and Union Territories, the company has a wide retail presence, with more than 70% of its stores located in premium shopping malls.
4. Its business is largely focused on major urban markets, with around 84% of sales coming from Tier-1 cities and Delhi-NCR and Karnataka together contributing about 57% of revenue.
5. The company follows a diversified business model that combines Exclusive Brand Outlets, Factory Outlets and master distribution networks, allowing it to serve both retail customers and wholesale channels.
6. The company has delivered strong growth, with revenue from operations increasing from ₹57.98 crore in FY23 to ₹220.40 crore in FY25, while revenue reached ₹202.59 crore in 9M FY26.
7. Its profitability has also improved, with PAT margin rising from 0.60% in FY23 to 8.55% in 9M FY26, supported by better operating performance.
8. The company reported a RoNW of 41.35% in FY25, reflecting efficient utilisation of shareholders’ funds.
9. The business is supported by an experienced management team with expertise in retail operations, brand management, supply chain and footwear and apparel distribution.
10. Its ability to maintain EBITDA margins of around 24%–26% while expanding its store network highlights its operational efficiency and scalability.

Risks and Threats for Gaurik Fashions IPO

1. Skechers contributed 56.16%, 59.69%, 61.48% and 83.03% of revenue from operations for the period ended December 31, 2025, FY2025, FY2024 and FY2023, respectively. Any deterioration in the relationship with the brand, decline in its popularity or changes in the arrangement could adversely affect revenue and profitability.
2. Footwear contributed 65.27%, 59.24%, 60.31% and 79.85% of revenue from operations during the period ended December 31, 2025, FY2025, FY2024 and FY2023, respectively. Changes in customer preferences, demand or fashion trends could impact sales, margins, inventory movement and cash flows.
3. The northern region contributed 55.59%, 53.00%, 50.17% and 62.21% of revenue from operations during the period ended December 31, 2025, FY2025, FY2024 and FY2023, respectively. Any loss of business or disruption in this region could affect revenue and profitability.
4. The statutory auditor of subsidiary Gaurik South Private Limited has expressed an intention to disassociate and is currently not cooperating. This could create challenges related to financial reporting, regulatory compliance and business operations.
5. The company plans to use part of the IPO proceeds to open additional stores across India. Delays, cost overruns, difficulties in securing suitable locations or poor site selection could affect the success of the expansion plans and financial performance.
6. The company has had instances of incorrect filings with the Registrar of Companies and other non-compliances under the Companies Act, 2013. Further regulatory action, penalties or compliance issues could adversely affect its business, financial condition and reputation.

Gaurik Fashions IPO Reservation

Gaurik Fashions IPO Promoter Holding

The promoters of the company are Vishnu Pillai, Rajesh Dudi, Swati Sinha and Isha Dudi. 

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Gaurik Fashions IPO Registrar and Lead Managers

Gaurik Fashions IPO Lead Managers

1. Credora Partners Pvt.Ltd.
2. Unistone Capital Pvt.Ltd.

Registrar for Gaurik Fashions IPO 

Name: MAS Services Ltd.

Phone No: 011-2638728182

Email: info@masserv.com

How To Check the Allotment Status of the Gaurik Fashions IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Gaurik Fashions IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Gaurik Fashions IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Gaurik Fashions IPO 

Address: 1st Floor, Rear portion, Block A, Centre for Indian Classical dance (CICD), Gulmohar Park Hauz Khas, New Delhi, New Delhi, 110016

Phone No: 011-40113227

Email ID: cs@gaurikgroup.com