Go Fashions (India) IPO for Rs 1,014 crore continues to receive a strong reception from the investors on its final day of the bidding process. The company’s shares issues that began subscription on Wednesday have been successful on the first day of its opening. In the initial three-day bidding process, Go Fashions sold its shares on the scale of Rs 655-690, which the NDE data said that the issue pulled around bids for 8,50,87,716 equity shares or 10.53 times as of 11.06 am. 

For the opening stake sale Go Fashion had offered a share of 80,79,491 equity shares.  

A great number of bidding from retail investors was seen for the issue in the first two days, however, the baton seems to have been passed on to the QIBs who normally collect the IPO mart on the final day of the share bidding process. 



Also Read: Go Fashion IPO subscrption begins today: Things you should know


The firm is one of the largest bottom-wear ranges of women's apparel that has an 8% market share in women’s banded bottom wear. The company’s parent Go Colors offers a wide range of products in all categories which include ethnic, western wear, fusion and denim. It has made the best use of its first-mover advantage to build a direct-to-consumer brand, further teh company is planning to expand its business in loungewear and athleisure. 


In the long term, the company has received mostly positive responses from the brokerage even though it recorded a negative bottom border in the financial year 2020-21.

According to TTM of June 2021 sales of Rs 271.4 crore on the post-issue basis, the company will list at market cap/sales of 13.73 at a market cap of Rs 3725.6 crore, said Marwadi Shares and Finance. Page industries and Trent who are peers of Go Fashion are trading at a market cap/sales of 13.21 and 11.89 respectively.

Giving it a subscribe rating, the brokerage also said that, "The company is a renowned women’s bottom wear in India with a well-diversified portfolio, multi-channel pan India distribution network and reasonable valuations compared to its peers."

One day before the IPO, 33 anchor investors were allotted 66,10,492 equity shares at a value of Rs 690 per share to raise 456.12 cores by Go Fashion (India).



The company’s anchor investor list includes names like Government of Singapore, Abu Dhabi Investment Authority, Fidelity Finds, Nomura and various domestic mutual funds such as SBI, ICICI, Aditya Birla, Kotak and Axis.

The IPO consists of fresh equity shares of Rs 125 crore, whereas promoters and existing shareholders will see off 12,878,389 equity shares worth Rs 888.6 via the OFS route.


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