IPO screener: Go Fashions IPO opens today, raises ₹455 cr from anchor investors

KS Badri Narayanan Chennai | Updated on November 17, 2021

Tarsons issue closes today, subscribed 3.58 times so far

Go Fashion's IPO opens for public subscription today. The public issue of the company, which owns women’s wear brand Go Colors, will close on Friday. The issue opens with a price band of ₹655-690, and a market lot of 21 shares.

The IPO 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.

Anchor investors

Go Fashion (India) on Tuesday allotted shares worth ₹455 crore to anchor investors. The company allotted 6.6 million shares at ₹690 apiece to anchor investors including Government of Singapore, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF.

Tarsons Products

Today is the last day for public subscription of ₹1,024-crore Tarsons Product. The initial public offering (IPO) of Tarsons Products was subscribed 3.58 times by the end of the second day. The price band for the offer has been fixed at ₹635-662 apiece and the market lot is 22 shares.

The IPO has so far received bids for 3.88 crore shares against the offer of 1.08 crore shares. The portion set aside for retail investors has been subscribed 4.74 times and that of non-institutional investors has seen 3.98 times subscription. The employee's quota has been fully subscribed and the portion for qualified institutional buyers was subscribed 1.3 times.

The labware supplier to life sciences sector reserved 60,000 equity shares for its employees who will get these shares at a discount of ₹61 a scrip to the final offer price.

Ahead of the issue, the company raised ₹306 crore from anchor investors, which included Government of Singapore, Abu Dhabi Investment Authority, ICICI Prudential Smallcap Fund , Mirae Asset Healthcare Fund and Aditya Birla MF are some of the funds who applied in the anchor category.

The IPO consists of fresh equity shares worth ₹150 crore and an offer for sale of 1.32 crore shares aggregating to ₹873.47 crore by existing shareholders.

The funds raised through the IPO will be utilised for repayment or prepayment of full or partial borrowings of up to ₹78.54 crore, to fund the capital expenditure for a new manufacturing facility at Panchla, West Bengal, and also for general corporate purposes.

Published on November 17, 2021

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