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Go Fashion IPO's last day; issue subscribed nearly 7 times

KS Badri Narayanan Chennai | Updated on November 22, 2021

Go Fashion's IPO is priced at ₹655-690

The IPO of Go Fashion, which owns women’s wear brand Go Colors, was subscribed 6.87 times on Day 2 itself, thanks to a strong retail investors' interest. Today is the last day for public subscription of Go Fashioin IPO, which opened for subscription on Wednesday.

The received so far received bids for 5.55 crore shares as against 80.79 lakh shares on offer. While the price band is

₹655-690, the market lot is 21 shares.

Retail investors portion received bids for 24.64 times while QIBs and NIIs quotas saw a subscription of 3.24 and 2.30 times.

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.

About Go Fashion

Go Fashion (India) is engaged in the development, design, sourcing, marketing, and retailing of a range of women`s bottom wear products under the brand `Go Colours`. The company is among the few apparel companies in India to have identified the market opportunity in women`s bottom wear and has acted as a `category creator` for bottom wear. The company had a market share of 8% in the branded women`s bottom wear market in FY2020.

Published on November 22, 2021

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