Go Fashion IPO was registered 135.40 times on the last day of release
The initial public offering (IPO) of Go Fashion, which owns the women’s clothing brand Go Colors, was registered 135.40 times on Monday, the last day of the public offering.
Compared to 80,79,491 shares offered for sale, bids were received for 1,09,39,93,929 shares on the last day. Non-Institutional Investors (NII) have registered for the issue 262.08 times, while qualified institutional buyers (QIBs) have registered for the issue 100.73 times.
The company has fixed a price range of Rs 655-690 per share for the issue. An investor can bid a minimum of 21 equity shares and in their multiples.
The IPO consists of a new issue of Rs 1,014 of equity shares totaling Rs 125 and an offering of up to 12,878,389 equity shares of the promoter and existing shareholders, for see a draft of the company’s red herring prospectus (DRHP).
Go Fashion opened the public release of Rs 1,013.61crore for registration on November 17th. Its third and final day is extended to November 22nd as it is a public holiday on November 19th. by Guru Nanak Jayanti.
Established in 2010, Go Fashion has an extensive India-wide network of 459 exclusive brand stores in the country, with a significant number of stores in southern and western India.
The Company proposes to use the proceeds from the new issue to meet the working capital requirements and for general corporate purposes.
