Go Fashion, the company behind the popular Go Colors brand, marked a remarkable entry into the stock market on Tuesday, November 30th, demonstrating significant investor confidence. The IPO listing price for Go Fashion shares far exceeded expectations, providing substantial gains for investors right from the opening bell.
The Go Fashion Ipo Listing Price on the Bombay Stock Exchange (BSE) opened at Rs 1,316 per share. This represented an impressive premium of 90.7 percent over the issue price of Rs 690. Similarly, on the National Stock Exchange (NSE), the Go Fashion stock commenced trading at Rs 1,310, reflecting a premium of 89.9 percent above the IPO issue price. This strong debut underscores the robust market appetite for the women’s bottom-wear retailer based out of Chennai.
This impressive listing performance was anticipated, aligning closely with trends observed in the grey market. Prior to the official IPO listing on Dalal Street, Go Fashion commanded a grey market premium (GMP) of approximately Rs 520. The grey market, an unofficial trading platform for unlisted shares, often serves as an indicator of potential listing gains.
Go Fashion’s successful IPO listing price debut comes amidst a generally positive phase for initial public offerings in the Indian market. Most IPOs have witnessed strong investor interest and subscription levels recently. A notable exception was the IPO of Paytm’s parent company, One97 Communications, which experienced a less than stellar market entry. However, even Paytm shares have shown signs of recovery after their initial dip, highlighting the overall resilience of the Indian IPO market.
The Go Colors IPO was open for subscription from November 17th to November 22nd and garnered significant attention from investors across categories. The price band for the IPO was set between Rs 655 and Rs 690 per share, making the eventual Go Fashion IPO listing price a welcome surge for those who secured allocations.
The IPO witnessed an overwhelming subscription of 135.5 times the number of shares on offer, demonstrating the high demand for Go Fashion stock. Qualified institutional buyers (QIBs) subscribed 100.7 times their allotted quota, while non-institutional investors (NIIs) showed even greater enthusiasm with a subscription of 262.1 times. Retail investors also displayed strong interest, subscribing 49.7 times the portion reserved for them, all contributing to the resounding success of the Go Fashion IPO listing price.
