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Go Fashion IPO subscribed 135.44 times

Our Bureau Chennai | Updated on November 22, 2021

Initial public offering or IPO concept with Indian Currency on Isolated background   -  istock.com/lakshmiprasad S

IPO received bids for 109.43 crore shares

The IPO of Go Fashion, which owns women’s wear brand Go Colors, was subscribed 135.44 times on Monday, the last day of the issue. Despite Paytm fairing poorly at the bourses, the IPO attracted all category of investors in a big way.

The IPO received bids for 109.43 crore shares as against 80.79 lakh shares on offer. Retail investors’ portion received bids worth 49.63 times while QIBs and NIIs quotas saw a subscription of 100.73 times and 262.08 times respectively.

The IPO came out with a price band of ₹655-690.

The public issue comprises a fresh issue of equity shares worth ₹125 crore and an offer-for-sale (OFS) of ₹890 crore. The fresh proceeds will be used to fund the roll-out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes, it said in a draft IPO paper.

Anchor investors

Ahead of the issue, Go Fashion (India) last week raised ₹455 crore from anchor investors. The company allotted 66 lakh shares at ₹690 apiece to anchor investors including Government of Singapore, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF.

Published on November 22, 2021

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