Go Fashion (India) Pvt Ltd, the parent company of the popular women’s apparel brand Gola, launched its initial public offering (IPO) in November 2021. This article provides a comprehensive overview of the Go Fashion India Pvt Ltd Ipo, including key details about the issue size, price band, subscription status, grey market premium (GMP), and important dates.
Go Fashion India Pvt Ltd IPO Details
The Go Fashion India Pvt Ltd IPO comprised a fresh issue of ₹125 crore and an offer for sale (OFS) of 12,878,389 equity shares. The price band for the IPO was set at ₹655 to ₹690 per share. The IPO opened for subscription on November 17, 2021, and closed on November 22, 2021.
Go Fashion IPO Subscription and Allotment
The Go Fashion IPO received an overwhelming response from investors, with the issue being subscribed a staggering 135.46 times overall. The category-wise subscription breakdown reveals strong demand across all investor segments:
- Qualified Institutional Buyers (QIBs): 100.73 times
- Non-Institutional Investors (NIIs): 262.08 times
- Retail Individual Investors (RIIs): 49.70 times
The basis of allotment was finalized on November 25, 2021, with refunds initiated on November 26, 2021. Shares were credited to demat accounts on November 29, 2021.
Go Fashion IPO Valuation and Market Lot
Based on the upper price band of ₹690, the market capitalization of Go Fashion (India) Pvt Ltd post-IPO was estimated at ₹3,712 crore. For FY21, the company reported an EPS of -₹0.68. The industry PE ratio stood at 130.17x.
The minimum application for the IPO was one lot consisting of 21 shares, amounting to ₹14,490. The maximum application for retail investors was 13 lots (273 shares), totaling ₹1,88,370.
Go Fashion IPO Grey Market Premium (GMP)
The grey market premium (GMP) for the Go Fashion IPO fluctuated in the days leading up to the listing. While GMP is not an official indicator and should not be the sole basis for investment decisions, it provides insight into market sentiment. The GMP trended between ₹380 and ₹500.
Go Fashion IPO Listing Date
The Go Fashion India Pvt Ltd IPO listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on November 30, 2021.
Conclusion
The Go Fashion India Pvt Ltd IPO garnered significant attention and demonstrated strong investor confidence in the company’s growth prospects. The robust subscription numbers and positive GMP indicated a successful listing. However, potential investors should conduct thorough research and consult with financial advisors before making any investment decisions. Remember that past performance is not indicative of future results.
