IPO: Go Fashion Goes Oversubscribed

Go Fashion (India) Limited’s initial public offering, which owns the women’s apparel brand Go Colors, was subscribed 1.18 times within hours of its opening for subscription on Wednesday.

Sanskar Tiwari

Go Fashion’s initial public offering (IPO) has officially launched, the Rs 1,013.61-crore initial share-sale of Go Fashion (India) Ltd, which owns women’s wear brand Go Colors, opened in the morning of November 17.

According to NSE data as of 12:42 p.m., the Rs 1,013.6-crore IPO received bids for 95,49,687 shares against 80,79,491 shares on offer. The subscription period has opened on November 17 and will close on November 22.

The initial public offer has a fresh issue of up to Rs 125 crore and an offer for sale of up to 12,878,389 equity shares. The price range for the offer is Rs 655-690 per share. Go Fashion (India) Ltd on Tuesday raised a little over Rs 456 crore from anchor investors.

Review the Go Fashion IPO Price Band.
-The equity shares in the Go Fashion IPO have a face value of Rs 10 each.
-The initial public offering (IPO) price has been set at Rs 650 to Rs 690 per equity share.
-It has a 21-share market lot and a 21-share minimum order quantity.
-The shares will be traded on both the BSE and the NSE.
-The issue size of the initial public offering is Rs 1,013.61 crore. The fresh issue accounts for Rs 125 crore of the total.

JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers to the issue. The equity shares will be listed on BSE and NSE.

Source: PTI