Go Fashion IPO to open tomorrow: Check latest GMP; Should you subscribe to IPO?

Go Fashion (India) Ltd, the parent company of the women's wear brand Go Colors is set to open its IPO tomorrow, November 17. The shares are expected to be in the fixed price band of Rs 655-690 a share for its Rs 1,014-crore initial public offering. It will be listed for three days and will open for public subscription on November 17. The shares of Go Fashion will conclude on November 22.

Go Fashion's IPO consists of a fresh issue of equity shares with a cumulative value of Rs 125 crore and an offer for sale (OFS) of up to 12,878,389 equity shares by the promoter and existing shareholders. According to several experts who specialise in market research, Go Fashion shares in the grey market today have improved and have a premium of Rs 540. The company had earlier announced that their stocks will be listed on the stock exchanges BSE and NSE on November 30, 2021. Under the Offer for Sale, PKS Family Trust and VKS Family Trust are selling 7.45 lakh equity shares, Sequoia Capital India Investments will offload 74.98 lakh shares, India Advantage Fund S4 I will dilute 33.11 lakh shares and Dynamic India Fund S4 US I will sell 5.76 lakh shares. Currently, PKS Family and VKS Family Trust own 28.74% stake each in the company, Sequoia Capital holds 28.73% stake, India Advantage Fund has 12.69% stake and Dynamic India Fund owns 1.1% stake in the firm.

More about Go Fashion

Go Fashion (India) Limited is one of the biggest players in the women's bottom-wear brands in India. The company deals in the development and design of the product along with sourcing, marketing, and retailing of a women's bottom-wear. They are in the market with the brand name of 'Go Colors'. Go Fashion brand stores are in the form of exclusive brand outlets and are in 23 states and union territories in India. Currently, the company Go Fashion has 459 outlets across 118 cities. The company had earlier announced that the proceeds from the fresh issue will be utilised to fund another 120 new exclusive brand outlets and to fund the capital requirements of adding new workers along with general corporate expenses.

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