Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.