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.
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.
AdvertisementHere are important dates related to the IPO:
|Price band||₹655 to ₹690|
|IPO open date||November 17|
|IPO close date||November 22|
|Allotment date||November 25|
|Initiation of refunds||November 26|
|Credit of shares to demat account||November 29|
|IPO listing date||November 30|
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.
|Shareholders selling shares in IPO||Number of shares|
|PKS Family Trust and VKS Family Trust||7.45 lakh|
|Sequoia Capital India Investments||74.98 lakh|
|India Advantage Fund S4 I||33.11 lakh|
|Dynamic India Fund S4 US I||5.76 lakh|
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