The original public immolation (IPO) of Go Fashion Ltd, which owns women’s wear brand Go Colors, will open for public subscription on 17 November and conclude on 22 November The company has fixed a price band at ₹ 655 to ₹ 690 per equity share of face value of ₹ 10 each. The bidding for anchor investors will open on 16 November.
Investors can place the flings for a minimum of 21 equity shares and in multiples of 21 shares later.
The company said net proceeds from the IPO will be used to fund the roll out of 120 new exclusive brand outlets, to support working capital conditions and general commercial purposes The table on the exchanges will probably take place on or around 30 November, with the final base of allotment on 25 November.
The ₹ 800-crore original share- trade comprises fresh issue of equity shares aggregating up to ₹ 125 crore and an offer-for- trade (OFS) of over to equity shares by protagonist and being shareholders At the upper end of the price band, the IPO is anticipated to cost crore Go Fashion said that 75 per cent of the issue size has been reserved for good institutional buyers (QIBs), 15 per cent fornon-institutional investors, while the remaining 10 per cent has been set away for retail investors.
Go Fashion is engaged in the development, design, sourcing, marketing and merchandising of a range of women’s bottom-wear products under the brand,’ Go Colors’. It’s among the many vesture companies in India to have linked the request occasion in women’s bottom-wear and have acted as a’ order creator’for bottom-wear Its bottom-wear products, including churidars, leggings, dhotis, stew pants, patiala, palazzos, culottes, pants, trousers and jeggings, are vended across multiple orders similar as ethnical wear, western wear, emulsion wear, athleisure, denims and plus sizes.
JM Financial, DAM Capital Counsels ( formerly IDFC Securities) and ICICI Securities are the lead directors to the issue. The equity shares will be listed on BSE and NSE.