Go Fashion IPO allotment date, status online; Fully subscribed! Know GMP, next step
Go Fashion IPO allotment date, status online:. The ₹800-crore initial share-sale of Go Fashion Limited, one of the largest women's bottom-wear brands in India, opened its public subscription today and it will be concluded on November 22. However, on the first day itself, it has been oversubscribed. And Go Fashion IPO GMP (grey market premium) has shot up. The Go Fashion IPO consists of a fresh issue of equity shares worth up to ₹125 crore and a promoter and existing shareholder offer-for-sale of up to 12,878,389 equity shares, the red herring prospectus (DRHP) data showed. According to market sources, the initial public offering of the company is expected to raise ₹800 crore. IPO has a price band of ₹655-690 per share. Through its public offering, the company seeks to raise $1,014 crore. Go Fashion IPO GMP stood at a strong premium of ₹530 per share.
Go Fashion IPO allotment date, status check online
If all goes according to plan, the Go Fashion IPO allotment will start from November 25, while the refund will be initiated on November 26. Go Fashion IPO allotment status can be checked online on bseindia.com through a direct link, which is: bseindia.com/investors/appli_check.aspx. The equity shares of the company will be listed on BSE and NSE. However, if all SEBI approvals are not received on time, some of these dates may change.
Go Fashion IPO:
PKS Family Trust and VKS Family Trust will each sell 7.45 lakh equity shares under the offer for sale, while Sequoia Capital India Investments would sell up to 74.98 lakh. 33.11 lakh shares will be from India Advantage Fund S4 I, and Dynamic India Fund S4 US I will sell up to 5.76 lakh shares.
PKS Family and VKS Family Trust each own 28.74% of the company, Sequoia Capital 28.73%, India Advantage Fund 12.69%, and Dynamic India Fund 1.1%.
How the Go fashion IPO funds will be used
The Go Fashion IPO raised funds will be used to roll out 120 new exclusive brand outlets. Additionally, it will support working capital requirements and general corporate purposes.
Under the 'Go Colors' brand, the company is involved in the development, design, sourcing, marketing, and selling of a variety of women's bottom-wear products. Customers are served largely through their extensive network of 459 exclusive brand outlets (EBOs), which includes 12 COCO kiosks and 11 franchise stores distributed throughout 23 states and union territories.