Go Fashion IPO to Open Today: GMP, Strength; Should You Subscribe to Go Fashion IPO?
Go Fashion India Limited is set to open its maiden initial public offer, or IPO, on Wednesday, November 17. The Rs 1,013 crore IPO will be open for six days instead of the usual three days, since November 19 is a national holiday. The Go Fashion IPO will close on November 22. The company, which owns Go Colors, is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand, ‘Go Colors’. The company has already mopped up Rs 56.12 crore from 33 anchor investors, and now 66,10,492 shares will be up for bidding. The top anchor investors include Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, Neuberger Berman Emerging Markets Equity Master Fund, University of Notre Dame Du LAC, and Volrado Venture Partners Fund II
Go Fashion IPO Details
The Go Fashion IPO, open between November 17 to 22, comprises of fresh proceeds worth Rs 888.60 crore and an offer for sale (OFS) worth Rs 125 crore. The price band for the initial public offer is Rs 655-690 per equity share. The company will not receive any proceeds from the OFS part of the offer.
The lot size of the maiden public bid has been fixed at 21 equity shares and in multiples of 21 shares thereof. This means that retail investors can invest a minimum of Rs 14,490 per lot in the IPO. The maximum price of one lot can go up to Rs 1,88,370 for 13 lots. Retail investors can invest up to Rs 2 lakh in the initial public offer.