Go Fashion (India) IPO opens today — Here is close date, allotment date and other important details, GMP at ₹530

• Go Fashion (India) IPO opens today and closes on November 22.
• The company is looking to raise ₹1,014 crore through its public listing of shares.
• The grey market premium of the women's bottom-wear brand stood at a strong premium of ₹530 per share.

Go Fashion (India), one of the largest women's bottom-wear brands in India under brand Go Colors, has opened its IPO today and closes on November 22 with a price band of ₹655-690 per share.

The company is looking to raise ₹1,014 crore through its public listing of shares with a fresh issue of equity shares worth ₹125 crore and an offer for sale (OFS) of 1.28 crore equity shares that will be sold by promoters and an investor.

Moreover, the grey market premium of the women's bottom-wear brand stood at a strong premium of ₹530 per share.

Here are important dates related to the IPO:

The proceeds from the fresh issue will be used to fund the roll out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes.

The company is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand, ‘Go Colors’.

“Go Fashion India has a better track record of revenue growth, higher operating margin & high Return on equity compared to TCNS Clothing Co (peer). Considering all the positive factors, we believe this valuation is at reasonable levels. Thus, we recommend a subscribe rating on the issue,” said Amarjeet Maurya, assistant vice president - mid caps at Angel One.


SEE ALSO: Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars with

Reliance Industries makes for nearly third of Nifty’s fall today ⁠— Tata Motors and Maruti beat the trend