BackGo Fashion IPO share allotment announced. Here's how to check application status online
Go Fashion IPO: The price range for the three-day initial public offer was fixed at ₹655-690 per share
PremiumThe three-day initial public offering (IPO) of Go Fashion (India) Limited, which owns women's wear brand Go Colors, received a whopping 135.46 times subscription on its last day of susbscription on Monday. The ₹1,013.6-crore IPO received bids for 1,09,44,34,026 shares against 80,79,491 shares on offer.
The finalization of basis of share allotment of Go Fashion IPO has been announced today and the bidders can check their application status online. The registrar for this IPO is KFintech Private Limited, therefore the allotment application can be checked on its website here or on the BSE website here. The credit of shares to demat account of bidders who got the allotment will be done on November 29, 2021.
The shares of the company are expected to list on stock exchanges BSE and NSE on November 30, 2021. The initial share sale had a fresh issue of up to ₹125 crore and an offer for sale (OFS) of up to 12,878,389 equity shares. Price range for the offer was at ₹655-690 per share. Go Fashion had raised a little over ₹456 crore from anchor investors ahead of its public issue.
The initial public offer of Go Fashion (India) Limited was fully subscribed within hours of opening. The portion for non-institutional investors was subscribed 262.08 times, Qualified Institutional Buyers (QIBs) 100.73 times and Retail Individual Investors (RIIs) 49.70 times.
Go Fashion is engaged in the development, design, sourcing, marketing and retailing a range of women's bottom-wear products under the brand, 'Go Colors'. Its network of 459 EBOs (Exclusive Brand Outlets) are spread across 23 states and union territories in India, as of September 30, 2021.
The proceeds from the fresh issue will be used to fund roll out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes. JM Financial, DAM Capital Advisors, and ICICI Securities were the managers of the initial share sale.
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