three days Initial Public Offering (IPO) Go Fashion (India) Limited, the owner of women’s apparel brand Go Colors, got 135.46 times subscriptions on the last day of subscription on Monday. NS The IPO of Rs 1,013.6 crore received bids for 1,09,44,34,026 shares as against 80,79,491 shares on offer.
The basis for share allotment of Go Fashion IPO is expected to be finalized today, Thursday, November 25, 2021 and if allotted, the shares will be credited to the demat account of the bidders on November 29, 2021. This IPO is Kefintech Pvt Ltd, so the allotment application can be checked on its website Here or on BSE website Here,
The shares of the company are expected to be listed on the stock exchanges BSE and NSE on November 30, 2021. There was a new issue in the initial share sale. 125 crore and offer for sale (OFS) of 12,878,389 equity shares. Price range for the offer was low 655-690 per share. Go fashion had picked up a bit 456 crores from anchor investors before its public issue.
Go Fashion (India) Limited’s initial public offering was fully subscribed within hours of opening. The share of non-institutional investors was subscribed 262.08 times, Qualified Institutional Buyers (QIBs) 100.73 times and Retail Individual Investors (RIIs) 49.70 times.
Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a range of Women’s Bottom-wear products under the brand ‘GO Colours’. Its network of 459 EBOs (Exclusive Brand Outlets) is spread across 23 states and union territories of India as on 30th September, 2021.
The proceeds from the new issue will be used to start 120 new exclusive brand outlets to support working capital requirements and general corporate objectives. JM Financial, DAM Capital Advisors and ICICI Securities were the managers of the initial share sale.
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