Go Fashion India Ltd to go for IPO

By: WE Staff | Wednesday, 17 November 2021

Go Fashion India Ltd, the operator of the largest women’s bottom-wear brand ‘Go Colours’, will go live for a subscription for its IPO. The public offering will be for 3 days.

The IPO will fetch around ₹ 1,013.6 crores at the upper end of the price band.

Before the listing on Indian bourses – BSE and NSE, Grey Market Premium described the performance of the IPO applications in the unlisted market. The Go Fashion GMP is more than ₹ 500, which means that it may be at a premium on the listing.

Under the OFS, Sequoia Capital India Investments will offload 74.98 lakh shares, VKS Family Trust and PKS Family Trust will sell 7.45 lakh shares each, India Advantage Fund S4 1 will sell up to 33.11 lakh shares, and 5.76 lakh shares will be disinvested by the Dynamic India Fund S4 US 1.

According to the company, 10 per cent of the issue has been set aside for retail investors, 15 per cent for NIIs (Non-institutional buyers) and 75 per cent for QIBs (Qualified Institutional Buyers). The generated funds will be utilised to aid working capital requirements and general corporate purposes and for opening 120 new exclusive brand outlets.

The company is a pioneer in branded bottom wear for women. “Our bottom-wear products, including churidars, leggings, dhotis, harem pants, Patiala, palazzos, culottes, pants, trousers and jeggings, are sold across multiple categories such as ethnic wear, western wear, fusion wear, athleisure, denims, plus sizes and girls wear making our portfolio ‘universal’ and for every occasion,” the company said in its website.