The initial public offering (IPO) of Go Fashion Limited, a prominent women’s bottom-wear brand in India known for its ‘Go Colors’ brand, has generated significant investor interest. The ₹800-crore IPO, which opened on November 22nd, witnessed strong oversubscription on its first day, driving up the Go Fashion IPO GMP (Grey Market Premium). This robust response indicates positive market sentiment towards the offering.
Go Fashion’s IPO comprises a fresh issue of equity shares valued at up to ₹125 crore, alongside an offer for sale of up to 12,878,389 equity shares by promoters and existing shareholders. The IPO price band was fixed at ₹655-690 per share. The company intends to utilize the IPO proceeds to establish 120 new exclusive brand outlets (EBOs), bolster working capital, and for general corporate purposes.
The grey market premium (GMP) for Go Fashion IPO has seen a surge, reaching a premium of ₹530 per share. The GMP serves as an unofficial indicator of the expected listing gains, reflecting market anticipation and demand for the IPO shares even before they are officially listed on exchanges. A high GMP often suggests strong investor confidence and potential for a positive listing.
If the IPO process proceeds as planned, the Go Fashion IPO allotment is expected to be finalized starting November 25th. Following the allotment, the initiation of refunds for unsuccessful applications is scheduled for November 26th. Successful applicants will have their Demat accounts credited with Go Fashion shares.
The anticipation surrounding the allotment status is high. Investors who have applied for the IPO are keenly awaiting updates on their application status. Checking the allotment status online is a straightforward process, primarily facilitated through the official website of BSE (Bombay Stock Exchange).
To check the Go Fashion IPO allotment status online, investors can visit the BSE India website. The direct link for checking IPO application status on BSE is bseindia.com/investors/appli_check.aspx. This online facility allows applicants to quickly ascertain whether they have been allotted shares in the IPO.
The equity shares of Go Fashion Limited are slated to be listed on both BSE and NSE (National Stock Exchange). The listing on these major exchanges will mark the culmination of the IPO process and allow for trading of Go Fashion shares in the secondary market. While the indicative dates for allotment and listing are set, it’s important to note that these are contingent upon timely receipt of necessary approvals from SEBI (Securities and Exchange Board of India). Any unforeseen delays in regulatory clearances could potentially lead to adjustments in the timeline.
Go Fashion’s extensive network of 459 exclusive brand outlets (EBOs) across 23 states and union territories underscores its strong market presence. The funds raised through the IPO are strategically earmarked to further expand this retail footprint and enhance operational capabilities. The company’s focus on the women’s bottom-wear segment, coupled with positive investor response to the IPO, positions Go Fashion for continued growth in the competitive fashion retail landscape.
