Go Fashion will allocate shares to eligible subscribers on Thursday 25 November after its exceptional subscription during the initial public offering (IPO).
The company’s IPO began on November 17 and closed on November 22. The price range for the IPO was set at Rs 655-690 per share.
The lot size for the IPO was 21 shares for which Rs 14,490 was expected to be spent. An individual retail investor could request up to 13 lots or 273 shares by spending 188,370 Rs.
The operator of the leading brand of women’s stockings Go Colors will go public on November 30 on BSE and NSE.
The issue was subscribed 135.38 times on the last day of the auction.
The IPO attracted bids for 109.38 crore of shares against the offering size of 80.79 lakh of shares. The portion reserved for individuals was counted 49.27 times and non-institutional investors submitted offers for 262.08 times their allocated portion. The share of qualified institutional buyers was subscribed 100.73 times.
Go Fashion recorded a market share of around 8% in fiscal year 20. The IPO included a new issue of shares up to Rs 125 crore and an offer to sell of up to 12 878,389 shares.
Prakash Kumar Saraogi, Gautam Saraogi, Rahul Saraogi, Pks Family Trust and Vks Family Trust are the promoters of the company.
They held 57.47% of the company’s capital, which was reduced to 52.78% after the IPO. The objects of the IPO were to finance the deployment of 120 new EBOs (Exclusive Brand Outlets), to finance working capital requirements and the general objectives of the company. JM Financial, DAM Capital Advisors and ICICI Securities were the main managers of the offering.
There are two ways by which one can check the state of the allotment. Investors can visit the Bombay Stock Exchange (BSE) website or the IPO Registrar’s website.
Stock exchange website
Step 1: Visit the official ESB website.
Step 2: On the ESB home page, click on “Equity”. A drop-down menu will appear. Select “Go Fashionable”.
Step 3: Enter your app and PAN number.
Step 4: After entering the details, click “Search”.
After clicking on the ‘Search’ button, the detail of the number of shares subscribed and the number of shares allocated to you will be displayed.
The registrar for the sale of the shares is KFin Technologies Private Limited.
Go to the registrar’s website.
Select IPO (Go Fashion India Limited)
b) Enter either the request number, customer DPID / ID, or PAN number
c) Enter the Captcha and click Submit
The company’s bottom products including churidars, leggings, dhotis, harem pants, Patiala, palazzos, culottes, pants, pants and leggings are sold in several categories such as ethnic clothing, western clothing, fusion clothing, sports and denim types. .
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