Go Fashion Share Price IPO with a price of Rs 655-690 per share is open for subscription on Tuesday, November 17 and closes on November 22.
According to market watchers, the shares of Go Fashion are now available at a premium of Rs 470 in the gray market, which is very promising as the price of the public offering is in the range of Rs 655 to Rs 690 per share. Go Fashion stock can be traded at Rs 1,160 (690 + 470) per current GMP. It is 70% more expensive than the most expensive price range of the company.
The company is one of the few apparel companies in India that has seen market opportunities in low quality women’s apparel and acted as a promoter of low quality apparel categories.
Go Fashion Share Price
It is the first company to launch a dedicated brand exclusively for the lingerie category and has utilized this advantage to build a direct consumer brand with a diverse and differentiated portfolio of high quality products at competitive prices.
It offers one of the largest portfolios of low quality apparel among women apparel retailers in terms of colors and styles. With a market share of around 8% in the branded womenswear market in FY20, Go Fashion is one of the largest womenswear brands in India.
Go Fashion India has outperformed rival TCNS Clothing Company in terms of return on equity, operating profit margin and revenue growth. The company also sells its products through its website, online store and multi-brand outlets (MBOs).
The company intends to use the proceeds from the sale of shares to open an additional 120 exclusive brand stores, meet working capital requirements and for general business purposes.
The company’s shares are expected to be listed on BSE and NSE on 30 November 2021. According to market sources, the IPO is expected to reach Rs 800 crore. The IPO lot size is of 21 shares, for which Rs 14,490 will be spent.
Private retail investors can apply to buy 13 lots or 273 shares or up to Rs 188,370. Retail investors can place bets from a minimum of 21 shares to a maximum of 13 lots. Under the IPO, investors can bet on Go Fashion shares at 21x the price in the price range of Rs 655-690.
Go Fashion’s IPO price range is set at Rs 655-690, and the top of the IPO price range will reach around Rs 1,013.6 crore.
The GoFashion IPO includes the issuance of up to Rs 1.25 billion in new shares, as well as an offer for sale (OFS) for issuance of 12,878,389 shares to the founders and existing shareholders.
Through the SFO, PKS Family Trust and VKS Family Trust will each increase their stake to 745,000 shares, Sequoia Capital India Investments will sell up to 7.498 million shares, and India Advantage Fund S4I will sell 33.11 million shares.
Dynamic India Fund S4 will sell US 576,000 shares. Other organizations that have sold shares include investors Sequoia Capital India Investments IV (7.498 million shares), India Advantage Fund S4 I (3.311 million shares) and Dynamic India Fund S4 US I (576,000 shares).
The amount raised for the release of Rs 33.70 will be used to open 120 new exclusive outlets for the Go Fashion brand. It will also be used to meet working capital requirements (Rs 61.45 crore) and general business purposes, the company said.
The Rs 1,013.6 crore IPO of Tarson Products will be available for subscription till Monday 22 November 2021 and the company’s price range has been fixed at Rs 655-690 per share.
The initial sale of shares in the Chennai-based women’s clothing company is a combination of a 125 crore fresh share issue and an offer for sale (OFS) by the existing founders and shareholders for a total of Rs 888 crore.
New Delhi The first sale of Rs 800 crore to Go Fashion (India) Limited, the owner of the Go Colors womenswear brand, will open to the public on November 17.
Go Fashion Limited, headquartered in Navi Mumbai, submitted a Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of Rs 125 crore and 12,878,389 shares on August 12, 2021. IPO Go Fashion (India) on Tuesday, 16 November 2021 completed the allotment of 66,10,492 shares to anchor investors at an assignment price of Rs 690 per share for a total of Rs 4.56.12 39 480.
Ahead of its IPO, Go Fashion (India) raised over Rs 456 crore (Rs 4.56,12.39 480) from 33 anchor investors, with Rs 690 each from 66,10,492 shares, the bag showed. Earlier, ahead of the launch of its IPO on Wednesday, Go Fashion on Tuesday raised just Rs 456 crore from key investors.
Go Fashion plans to raise Rs 1,014 crore through a public offering and has priced the issue between Rs 655 and Rs 690 per share. At the end of the second trading day, as per data available on National Stock Exchange or NSE, Go Fashion IPO has received 5,55,12,051 buy offers with total issue volume of 80,79,491.
Bids received so far for securing 5.55 crore shares against 80.79 million shares on offer. According to the exchange, investors made an offer of 109.40 crore shares against an offer of 80.79 million units.
Retail Individual Investors (RIIs) filed the issue 26.64 times as 220.127.116.110 shares as against 14.68,998 shares reserved for this category. The retail quota was booked 24.64 times and non-institutional investors submitted bids 2.30 times the allotted quota.
The offer received offers for 80.79.491 shares as against 1.99.02.708 shares. The public edition of Go Fashion, the owner of the Go Colors brand, was signed 135.41 times on the third and final day of the competition on 22 November.
Go Fashion, which had around 8% of the branded womenswear market in FY20, launched a public release of Rs 1,013.61 on November 17.
Go Fashion (India) will use the net proceeds from the new launch to sell 120 new exclusive stores of the brand, equivalent to Rs 33.73 crore, to finance the working capital requirement of Rs 61,398 crore, and the rest for general business purposes. has proposed to do.
The company has offered 6.6 million shares for Rs 690 to anchor investors including Singapore Government, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF. The company had raised Rs 456.12 crore through anchor investors on November 16.
Ahead of the IPO opening today, the stock is trading at a premium of Rs 560 in the gray market, up Rs 30 from yesterday’s premium. Given that the GMP Go Fashion IPO is currently priced at Rs 470, this means that the gray market expects the public offering at around Rs 1,160 (Rs 690 + Rs 470), which is almost 70% above its upper price range. .
Since the GMP Go Fashion IPO today is Rs 560, it simply means that the gray market expects Go Fashion stock to be around Rs 1,250 (Rs 690 + Rs 560), which is almost 80% higher than the limit. Up to Rs 690 per share.
- paytm share price today live
- Paytm Share Price Target 2022, 2023, 2024, 2025 and 2030
- Paras Defense Share Price Target 2022, 2023, 2025, 2030
- Subex Share Price Target 2022, 2023, 2024, 2025, 2030 – Multibagger Stock!
- Zomato Share Price Target 2022, 2023, 2024, 2025 and 2030
- Effle India Share Price Targets 2022, 2023, 2024, 2025 and 2030
- 3i Infotech Share Price Targets 2022, 2023, 2024, 2025 and 2030
- NHPC Share Price Targets 2022, 2023, 2024, 2025 and 2030
- Devyani International Share Price Targets 2022, 2023, 2024, 2025 and 2030
- Ethereum Price Targets 2022, 2023, 2024, 2025 and 2030
- bitcoin target price 2022, 2023, 2024, 2025, 2030
- Bitcoin Price Prediction 2021, 2022, 2023, 2024 and 2025
- RCom Share Price Target 2022, 2023, 2025, 2030
- PayPal Share Price Targets 2022, 2023, 2024, 2025 and 2030
- Tech Mahindra Share Price Target 2022, 2023, 2024, 2025, 2030
- Tata Steel BSL Share Price Target 2022, 2023, 2024, 2025, 2026, 2030
- Happiest Minds Share Price Target 2022, 2023, 2024, 2025, 2030
- Nykaa Share Price Target 2022, 2023,2024, 2025, 2030
- Sigachi Share Price Target 2022, 2023, 2024, 2025, 2030
- Policybazaar Share Price Targets 2022, 2023, 2024, 2025 and 2030