Go Fashion Share Price IPO with a price range of Rs 655-690 per share is open for subscription on Tuesday 17 November and closed on 22 November.
According to market watchers, Go Fashion shares are now available at a premium of Rs 470 on the gray market, which is very promising as the public offering is priced between Rs 655 and 690 per share. Go Fashion stock can currently be traded at Rs 1,160 (690 + 470) per current GMP. This is 70% more expensive than the company’s most expensive price range.
The company is one of the few apparel companies in India to have spotted market opportunities in low quality women’s apparel and acted as the originator of low quality apparel categories.
Go Fashion Share Price
It is the first company to launch a brand dedicated exclusively to the lingerie category and has used this advantage to create a direct consumer brand with a diversified and differentiated portfolio of high quality products at competitive prices.
It offers one of the largest portfolios of low quality apparel among womens apparel retailers in terms of colors and styles. Go Fashion is one of the largest womenswear brands in India, with a market share of around 8% in the branded womenswear market in FY2020.
Go Fashion India outperforms rival TCNS Clothing Co in terms of return on equity, operating profit margin and revenue growth. The company also sells its products through its website, online store, and multi-brand outlets (MBO).
The company seeks to use the proceeds from the sale of shares to finance the opening of an additional 120 exclusive brand stores, to meet working capital requirements and for general business purposes.
The company’s shares are expected to be listed on the BSE and NSE on November 30, 2022. According to market sources, the IPO is expected to reach Rs 800 crore. The IPO lot size is 21 shares, on which it will be necessary to spend Rs 14,490.
Private retail investors can apply to buy up to 13 lots or 273 shares or 188,370 rupees. Retail investors can bet from a minimum of 21 shares to a maximum of 13 lots. As part of the IPO, investors can bet on Go Fashion stocks in the price range of 655-690 rupees at 21 times the price.
Go Fashion’s IPO price range is set at 655-690 rupees, and the top of the IPO price range will reach around 1,013.6 crore.
The Go Fashion IPO includes the issuance of up to 1.25 billion rupees in new shares, as well as an offer for sale (OFS) for the founders and existing shareholders to issue up to 12,878,389 shares.
Through SFO, PKS Family Trust and VKS Family Trust will each increase their holdings by 745,000 shares, Sequoia Capital India Investment will sell up to 7.498 million shares, and India Advantage Fund S4 I will sell up to 3.311 million shares.
Dynamic India Fund S4 US will sell up to 576,000 shares. Other organizations selling shares include investors Sequoia Capital India Investments IV (7.498 million shares), India Advantage Fund S4 I (3.311 million shares) and Dynamic India Fund S4 US I (576,000 shares)…
The amount of Rs 33.70 raised for the release will be used to fund the opening of 120 new exclusive outlets for the Go Fashion brand. It will also be used to meet working capital requirements (Rs 61.45 crore) and for general business purposes, the company said.
Tarsons Products’ IPO of Rs 1,013.6 crore will be available for subscription until Monday 22 November 2022 and the company’s price range is set at Rs 655-690 per share.
The initial sale of shares in the Chennai-based women’s clothing company is a combination of a 125 crore new share issue and an offer to sell shares (OFS) for a total of Rs 888 crores by the existing founders and shareholders.
New Delhi The first sale of Rs 800 crore to Go Fashion (India) Ltd, the owner of Go Colors womenswear brand, will open to the public on 17 November.
Go Fashion Limited, headquartered in Navi Mumbai, submitted the Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of Rs 125 crores and 12,878,389 shares on August 12, 2022 … IPO Go Fashion (India) on Tuesday 16 November 2022 completed the allocation of 66,10,492 shares to anchor investors at an assignment price of Rs 690 per share, for a total of Rs 4.56.12 39 480.
Prior to its IPO, Go Fashion (India) raised over Rs 456 crores (Rs 4.56,12.39 480) from 33 anchor investors, up from 66,10,492 shares at Rs 690 each as they showed the bags. Earlier, ahead of the launch of its IPO on Wednesday, Go Fashion raised just over Rs 456 crore from major investors on Tuesday.
Go Fashion plans to raise Rs 1,014 crore through a public offering and has priced the issue in the range of Rs 655 to Rs 690 per share. At the moment, at the end of the second trading day, the Go Fashion IPO has received offers to buy 5,55,12,051 shares with a total issue volume of 80,79,491, according to data available on the National Stock Exchange or NSE.
Bids received to date to acquire 5.55 crore shares versus 80.79 million shares on offer. According to the exchange, investors made offers of Rs 109.40 crore shares on an offer of 80.79 million units.
Retail Individual Investors (RIIs) registered the issue 26.64 times as 18.104.22.1680 shares were filed against the 14.68,998 shares reserved for this category. The retail quota was booked 24.64 times and non-institutional investors submitted bids 2.30 times the allotted quota.
The offer received offers for 1.99.02.708 shares versus 80.79.491 shares. The public edition of Go Fashion, the owner of the Go Colors brand, was signed 135.41 times on November 22, the third and final day of the competition.
Go Fashion, which had about 8% of the branded womenswear market in fiscal 20, launched a public release of Rs 1,013.61 on November 17.
Go Fashion (India) proposes to use the net proceeds from the new launch to sell 120 new exclusive stores of the brand, equal to Rs 33.73 crores, financing a working capital requirement of Rs 61 398 crores, and the remainder for general business purposes.
The company has provided 6.6 million shares at Rs 690 each for anchor investors including the Singapore government, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF. On November 16, the company raised Rs 456.12 crore through anchor investors.
Ahead of the IPO opening today, the stock is trading at a premium of Rs 560 on the gray market, up Rs 30 from yesterday’s premium. Given that the GMP Go Fashion IPO is currently Rs 470, this means the gray market expects the public issue to be quoted at around Rs 1,160 (Rs 690 + Rs 470), about 70% above its upper price range.
Since the GMP Go Fashion IPO is Rs 560 today, that simply means the gray market expects Go Fashion stock to be worth around Rs 1,250 (Rs 690 + Rs 560), which is about 80% higher than the range. up to Rs 690 per share.
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