Go Fashion (India), a leading women’s bottom-wear brand known as Go Colors, launched its Initial Public Offering (IPO) on November 17th, closing on November 22nd. The company aimed to raise ₹1,014 crore through the IPO, with a price band set between ₹655 and ₹690 per share. The IPO consisted of a fresh issue of equity shares worth ₹125 crore and an offer for sale (OFS) of 1.28 crore equity shares from existing promoters and investors. A significant grey market premium of ₹530 per share indicated strong investor interest. The funds from the fresh issue are earmarked for expanding Go Fashion’s retail presence with 120 new exclusive brand outlets, managing working capital requirements, and general corporate purposes. Go Fashion designs, sources, markets, and retails a diverse range of women’s bottom-wear products under the popular “Go Colors” brand.
The key date for investors is the Go Fashion Ipo Allotment Date, set for November 25th. Following the allotment, refunds will be initiated on November 26th, with shares credited to demat accounts on November 29th. The highly anticipated listing date on major stock exchanges is scheduled for November 30th. The minimum lot size for application was 21 shares.
Financial analysts have compared Go Fashion to its competitor, TCNS Clothing Co., noting Go Fashion’s superior revenue growth, higher operating margins, and strong return on equity. These positive factors contribute to the perceived reasonable valuation of the IPO, leading to a “subscribe” recommendation from analysts like Amarjeet Maurya, Assistant Vice President – Mid Caps at Angel One.
Several prominent shareholders participated in the OFS, including PKS Family Trust, VKS Family Trust, Sequoia Capital India Investments, India Advantage Fund S4 I, and Dynamic India Fund S4 US I. These entities collectively offered a substantial number of shares, contributing to the overall size of the IPO. Sequoia Capital, a major stakeholder, divested a significant portion of its holdings through the OFS. The participation of these established investors further underscores the market confidence in Go Fashion’s growth prospects. The IPO attracted considerable attention from both institutional and retail investors.
