Chinese online clothing platform MOGU Inc. has landed $61.8 million in an initial public offering (IPO).

MOGU offered 4.7 million American depositary shares (ADSs), each representing 25 Class A ordinary shares.

The company has granted the underwriters an option to acquire up to a further 712,500 ADSs.

The underwriters of the offering, that were advised by New York-based law firm Davis Polk, included U.S. financial services company Morgan Stanley, Swiss peer Credit Suisse and China Renaissance.