Data from the National Stock Exchange shows that the sale of shares of Go Fashion through an initial public offering (IPO) was fully registered within hours of the sale. Go Fashion’s IPO was registered 1.31 times at 1:12 pm. Go Fashion received more than 1 billion bids for about 810,000 shares on the offer. Up to 82,41 thousand offers to buy at the cut-loss price. Retail investors placed bids in bulk as their reservation was placed 4.41 times while Qualified Institutional Buyers did not place any bids on Go shares. Fashion. The rate for non-institutional investors is set at 7%.
Go Fashion is planning to raise Rs 1,014 crore through the IPO and pricing the issuance in the range of Rs 655-690 per share. Retail investors may bid a minimum of 21 shares per lot and a maximum of 13 lots. A batch of Go Fashion shares in the IPO will cost Rs 14,490 at the above price.
Go Fashion’s IPO includes a new share issuance totaling up to Rs 125 crore and an offering (OFS) of up to 12,878,389 equity shares by existing promoters and shareholders.
According to OFS, PKS Family Trust and VKS Family Trust will sell off 7.45 thousand equity shares, Sequoia Capital India Investments will sell up to 74.98 thousand shares, Advantage India S4 Fund I will divest until 33.11 thousand shares and Dynamic India S4 US Fund I will sell upto 5.76 lakh shares.
JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers in this regard.
