Go Fashion has raised over Rs 456 crore from anchor investors.
New Delhi: The initial public offering (IPO) of Go Fashion (India) Ltd, owner of the women’s clothing brand Go Colors, went on sale on Wednesday. For the public offering of Rs 1,014 crore, the company fixed a price range of Rs 655-690 per share. The offering will end on November 22. The closing date has been extended due to a market holiday on Friday (November 19) by reason of Guru Nanak Jayanti.
The IPO consists of a new issuance of equity shares totaling up to Rs 125 crore and an offering (OFS) of up to 12,878,389 equity shares by the promoter and existing shareholders.
Here are the main things to know about IPOs:
* 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.
* Currently, PKS Family and VKS Family Trust hold 28.74% each, Sequoia Capital holds 28.73%, India Advantage Fund has 12.69% and Dynamic India Fund owns 1.1 % of shares in the company.
* Go Fashion has raised over Rs 456 crore from anchor investors.
* The company has decided to allocate a total of 66,10,492 equity shares to 33 fixed investors at a price of Rs 690 each, for a total transaction size of Rs 456.12 crore, according to a circular posted download on the BSE website.
* Approximately 75% of the issue size has been earmarked for qualified institutional buyers (QIBs), 15% for non-institutional investors, while the remaining 10% is for retail investors. .
* Investors can bid a minimum of 21 shares and multiple shares.
* JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers in this regard.
