The Go Fashion IPO, a highly anticipated event in the Indian stock market, saw its shares officially listed on November 30, 2021. This listing date marked a significant milestone for the women’s apparel retailer, Go Fashion India Ltd, and investors who participated in the initial public offering. The IPO aimed to raise ₹1013.6 Cr and was offered at a price band of ₹655 to ₹690 per share.
The Go Fashion IPO garnered substantial investor interest, as reflected in its impressive subscription rate of 93.66 times by the final day of bidding on November 22, 2021. This oversubscription indicated strong confidence in the company’s future prospects and the overall market sentiment surrounding the IPO.
Prior to the Go Fashion Listing Date, the grey market premium (GMP) for its shares fluctuated but generally remained robust, suggesting positive expectations for its stock market debut. On November 26, 2021, just before listing, the tentative GMP was reported at ₹500, further highlighting the anticipation among investors.
The schedule for the Go Fashion IPO included key dates that investors closely followed, culminating in the IPO listing date. The basis of allotment was finalized on November 25, 2021, refunds were initiated on November 26, 2021, and shares were credited to Demat accounts on November 29, 2021, all leading up to the Go Fashion listing date on November 30, 2021.
Analysts assessed the Go Fashion IPO valuation based on its price band and financial documents. At the upper price band of ₹690, the company’s market capitalization was estimated at ₹3712 Cr. While the Earnings Per Share (EPS) for FY21 was ₹-0.68, it’s important to consider future growth potential when evaluating valuation, especially in the context of the industry’s Price to Earnings (PE) ratio.
The Go Fashion IPO issue comprised a fresh issue of ₹125 Cr and an offer for sale of 1.28 Cr shares. This structure aimed to provide both fresh capital to the company and an exit opportunity for existing shareholders.
Retail investors could apply for a minimum of 1 lot, consisting of 21 shares, amounting to ₹14,490 at the upper price band. The maximum application size was 13 lots, or 273 shares, totaling ₹1,88,370.
The strong subscription across all investor categories – Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Individual Investors (RII) – further underscored the positive market response to the Go Fashion IPO and its successful listing on the specified date. Investors who were allotted shares on the Go Fashion listing date would have been keenly observing the stock’s performance upon its market debut.
