The three-day initial public offering (IPO) of Go Fashion (India) Limited, which owns the Go Colors womenswear brand, received a whopping 135.46 times subscription on its last day of subscription on Monday. The The 1,013.6 crore IPO received offers for 1,09 44 34,026 shares against 80 79,491 shares offered.
The finalization of the basis of allocation of the shares of the IPO of Go Fashion is expected to take place today, Thursday, November 25, 2021 and in case of allocation, then the credit of the shares to the mat account of the bidders will be made on November 29, 2021. this IPO is KFintech Private Limited, therefore the grant request can be verified on its website here or on the ESB website here.
The company’s shares are expected to be listed on the BSE and NSE stock exchanges on November 30, 2021. The initial sale of the shares had a new issue of up to 125 crore and an offer to sell (OFS) of a maximum of 12,878,389 shares. The price range of the offer was 655-690 per share. Go Fashion had raised a little more 456 crore from key investors ahead of its public offering.
Go Fashion (India) Limited’s initial public offering was fully subscribed within hours of opening. The portion intended for non-institutional investors was subscribed 262.08 times, qualified institutional buyers (QIB) 100.73 times and individual retail investors (RII) 49.70 times.
Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a line of women’s bottoms under the “Go Colors” brand. Its network of 459 EBOs (Exclusive Brand Outlets) is spread across 23 states and Union territories in India, as of September 30, 2021.
Proceeds from the new issue will be used to finance the deployment of 120 new exclusive branded outlets, to support working capital needs and general corporate objectives. JM Financial, DAM Capital Advisors and ICICI Securities were the managers of the initial sale of the shares.
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